In the Forex market, the Indian rupee weakened by 20 paise to close at 70.92 against the US dollar. This happened due to the strengthening of the US dollar and rising crude oil prices. Slower GDP, higher crude oil prices, and faltering trade talks between the US and China weighed on the domestic currency.
On a weekly basis, the domestic currency registered a gain of 22 paise. The rupee had rebounded by 52 paise to close at 70.72 against the US dollar Thursday.
Meanwhile, the Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee against the dollar at 70.9696 and against Euro at 80.7161. The reference rate for the rupee against the British pound was fixed at 94.0868 and against 100 Japanese yen at 63.49.
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