Mumbai: The Indian rupee opened on a muted note and fell to an all-time low against the US dollar on Thursday. As per forex traders, the strengthening of the American currency in the overseas market, significant foreign fund outflows and downturn in the Indian equity markets weighed upon the Indian currency.
At the interbank foreign exchange market, the local currency was trading in a narrow range. It opened at an all-time low of 83.72 against the American currency, registering a fall of 1 paisa from its previous close.On Wednesday, the Indian rupee depreciated 2 paise to hit its all-time closing low of 83.71 against the US dollar.
Also Read: Commodity Market: Gold price decline sharply
Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was at 104.21, lower by 0.17 per cent. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Wednesday as they offloaded shares worth Rs 5,130.90 crore.
Post Your Comments