Rupee Settles 4 Paise Down At 71.35, Slides For 6th Day

The rupee depreciated by 4 paise to close at a fresh three-week low of 71.35 against the US dollar on Friday, continuing its losing streak for the sixth day in a row amid steady rise in crude oil prices.

Forex traders said the USD/INR spot has been trading in a tight range amid lack of cues. At the interbank foreign exchange market, the domestic currency opened at 71.26 and later fluctuated between a high of 71.19 and a low of 71.40.

The domestic unit finally settled at 71.35, showing a fall of 4 paise over its previous close of 71.31 on Thursday. On a weekly basis rupee has depreciated by 19 paise.