Mumbai: The Indian rupee on Monday hit its fresh all-time low against the US dollar in the early trade. As per forex traders, the decline comes amid sustained outflow of foreign capital and elevated level of American currency index.
At the interbank foreign exchange, the Indian rupee opened at 85.77 and then slipped further 85.82 against the American currency, 3 paise lower than its previous closing. On Friday, the rupee depreciated 4 paise to close at 85.79 against the dollar. On December 27, the local currency touched its lifetime intra-day low of 85.80 against the greenback.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading 0.05 per cent lower at 108.74.Foreign institutional investors (FIIs) offloaded Rs 4,227.25 crore in the Indian capital markets on a net basis on Friday.
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