A weak opening in domestic equities and unabated foreign fund outflows also weighed on the domestic currency.

Rupee is trading at 71.43 against dollar as gains in domestic equity market and easing crude prices strengthened investor sentiments.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.01 per cent to 98.61.

Weak opening in domestic equities and sustained foreign fund outflows also weighed on the domestic currency.

At the interbank foreign exchange the rupee opened at 70.94, then gained further ground and touched a high of 70.88.

At the interbank foreign exchange the rupee opened at 71.46, then gained further ground and touched a high of 71.30.

Rising brent crude prices and foreign fund inflows weighed on the domestic currency.

Sustained foreign fund outflows and rising crude prices also dragged the local currency down.

Emerging market currencies, including the Indian rupee, have been hit hard by the intensifying trade war.

Rupee is trading at 72.20 against dollar, amid weakening of the American currency in overseas market.