The rupee is down about 11% against the dollar so far this year
Breaking a winning streak of seven consecutive sessions, the rupee weakened by 18 paise to close at 70.87 against the dollar on Monday. Monday's move in the rupee marked the first time the rupee closed weaker against the dollar since November 12. Riding on falling crude oil prices, the rupee had advanced by 220 paise - or 3 per cent - against the dollar in the past seven trading sessions. Some weakness in crude oil prices on Monday dragged the rupee lower against the greenback on Monday, despite a 1 per cent gain in the domestic stock markets.