21 October,2022 09:42 PM IST | New Delhi | PTI
Representational image
The rupee depreciated 6 paise to a record low of 83.06 against the US dollar in opening trade on Thursday due to a stronger greenback overseas and unrelenting foreign fund outflows.
Besides, a sell-off in domestic equities and risk-averse sentiments weighed on the local unit, forex traders said.
At the interbank foreign exchange, the domestic unit opened weak at 83.05 against the dollar, then slipped further to quote 83.06, a fall of 6 paise over its previous close. The local currency also hit a high of 83.07 in early deals.
In the previous session on Wednesday, the rupee plunged 60 paise to end at 83 against the dollar.
ALSO READ
One dead, 43 injured as bus overturns in UP's Sonbhadra
Samaritans, Chennai cops use Google, OSINT to reunite missing woman with her son
SC dismisses SpiceJet's plea against Delhi HC order grounding 3 aircraft engines
Priyanka Gandhi criticises PM Narendra Modi for disrespecting Mallikarjun Kharge
Congress most corrupt, run by 'tukde tukde' gang, urban Naxals: PM Modi
Also read: Rupee hits record low of 83.06 against US dollar
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.07 per cent to 113.06.
Brent crude futures, the global oil benchmark, slipped 0.17 per cent to USD 92.25 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 140.09 points or 0.24 per cent lower at 58,967.10. Similarly, the broader NSE Nifty fell 43.95 points or 0.25 per cent to 17,468.30.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 453.91 crore on Wednesday, according to exchange data.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.