Rupee trades lower against US dollar

The Indian currency opened lower on Wednesday against US Dollar amid a slide in crude oil prices and a mixed trend in Asian markets. The local currency opened at 70.59/$ and touched a high and a low of 70.56/$ and 70.63/$, respectively.

Currently, the rupee is trading at 70.57/$, down 8 paise.

The yields on the 10-year government bonds were unchanged at 7.38%. Meanwhile, the dollar held near a two-week high against its key rivals, underpinned by higher US yields and better-than-expected data.

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