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Forex: Indian Rupee settle lower against US dollar

The Indian rupee settled 10 paise lower against US dollar. The domestic currency was settled at 70.80 against US dollar.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.5547 and for rupee/euro at 79.9596. The reference rate for rupee/British pound was fixed at 91.1327 and for rupee/100 Japanese yen at 63.78.

The rupee had gained 48 paise to end at a one-month high of 70.70 against the US dollar Tuesday, registering its sixth straight session of gain. In the last six trading sessions, the rupee has gained 110 paise.

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