Mumbai: The Indian rupee dropped to an all-time low against the US dollar in early trade on Thursday. As per forex traders, dollar demand from importers, foreign fund outflows and a muted trend in domestic equities influenced investors.
At the interbank foreign exchange, the Indian rupee opened on a weak note and breached the crucial 85.00 level against the US dollar. It fell further to an all-time low of 85.06 against the American currency, registering a fall of 12 paise over its previous close. On Wednesday, the rupee dropped 3 paise to close at an all-time low of 84.94 against the US dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading higher by 0.01 per cent at 108.03. Foreign Institutional Investors (FIIs) offloaded Rs 1,316.81 crore in the Indian capital markets on net basis on Wednesday.
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