The Indian rupee extended its losses for the second consecutive trading session on Tuesday. The domestic currency opened 4 paise down at 70.91 against the American currency vs. its previous close of 70.87 per dollar.
On Monday, the currency depreciated by 18 paise to 70.87 against the American unit. Meanwhile, over the past seven days of winning streak, the currency has gained 220 paise against the dollar.
The fall is probably on the back of a rebound in crude oil prices. Also, a recent comment from the United States president Donald Trump that his government may opt for further China tariff hikes in the absence of a trade deal may have had an impact.
Meanwhile, the 10-year government bond yield stood at 7.747% from its previous close of 7.727%. Bond yields and prices move in opposite directions.
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