Rupee opens 4 paise lower at 66.70 against dollar

NEW DELHI: The rupee on Wednesday opened 4 paise lower at 66.70 against the dollar.

The domestic unit on Friday settled at 66.66, up 9 paise, in the wake of dollar selling by exporters and a rally in local equities.

The currency market was closed on Monday and Tuesday on account of public holidays.

The Indian currency had suffered its worst drubbing in the recent past and plunged to a fresh 14-month low of 66.90 last Wednesday before making up some ground. It has been the worst performing Asian currency this year after strengthening over 6 per cent in 2017.

Surging global crude prices and consistent widening in trade deficit along with capital outflows from both equity and debt market have largely impacted the forex stability.