NEW DELHI: The rupee on Monday opened 15 paise lower at 68.16 against the US dollar. The domestic currency on Friday crumbled below the key 68-mark to end at a fresh three-week low of 68.01 against the US currency after the country's trade deficit widened more than expected amid renewed global trade war fears. Panic dollar buying sent the home currency to a low of 68.04 in day trade before settling the week at 68.01 per dollar, down by 39 paise or 0.58 per cent. This was the lowest closing for the rupee since May 24. On the global front, Asian shares retreated on Monday after US President Donald Trump cranked up trade tensions with China by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind, Reuters reported. Oil prices fell further, pulled down by an expectation that producer club Opec and its allies will increase supplies. Brent crude futures, the international benchmark for oil prices, were at $73.05 per barrel at 0036 GMT, down 39 cents, or 0.5 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were at $64.24 a barrel, down 82 cents, or 1.3 per cent, from their last settlement, said a Reuters report.
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