Foreign institutional investors remained net sellers in the capital market on Thursday as they offloaded shares worth Rs 3,257.65 crore, as per stock exchange data.
At the interbank foreign exchange market, the local currency opened at 77.99 and finally settled at its all-time low of 78.17, down 13 paise over its previous close of 78.04.
At the interbank foreign exchange market, the local currency opened at 78.20 and witnessed an intra-day high of 78.02 and a low of 78.29 against the US dollar.
At the interbank foreign exchange, the rupee opened at 78.20 against the American dollar, then lost ground to quote at 78.29 -- its record low level, registering a fall of 36 paise from the last close.
The rupee opened weaker against the dollar this Friday tracking the overnight strength of the greenback, said Sriram Iyer, Senior Research Analyst at Reliance Securities.
Rupee Vs Dollar: Like other markets, the money market too works on the basis of demand and supply; thereby, if the demand for the dollar gets high, the rupee depreciates and that is the basic working methodology of the floating exchange rate.
At the interbank foreign exchange market, the rupee opened lower at 77.72 against the greenback and finally settled for the day at 77.72, down 10 paise over its previous close.
The 30-share BSE benchmark zoomed 1,344.63 points or 2.54 per cent to settle at 54,318.47 points with all of its constituents closing with gains. During the day, it jumped 1,425.58 points or 2.69 per cent to 54,399.42.
The value of the rupee depreciated mainly due to persistent foreign fund outflows and elevated global crude oil prices.
Modi ji, you used to criticise Manmohan ji when ₹ fell. Now ₹ is at its lowest ever value. But I won't criticise you blindly, Rahul Gandhi wrote on Twitter.
Forex traders said risk appetite has weakened amid mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks.
On the domestic equity market front, the 30-share Sensex ended 1,491.06 points or 2.74 per cent lower at 52,842.75, while the broader NSE Nifty plunged 382.20 points or 2.35 per cent to 15,863.15.
The Indian Rupee started on a weaker note this Monday against the greenback tracking the strength of the dollar.
The rupee surged 12 paise to 72.87 against the US dollar in opening trade on Monday following weakness in the greenback overseas and a positive trend in the domestic equities.
The rupee strengthened by 5 paise to 73.59 against the US dollar in opening trade on Monday, supported by foreign portfolio inflows and strong opening in domestic equities.
The rupee opened on a flat note and was trading in a narrow range against the US dollar in opening session on Friday, even as the domestic equity market traded with gains.
The rupee appreciated by 7 paise to 73.73 against the US dollar in the opening session on Monday on sustained foreign fund inflows and positive domestic equities.
The rupee declined further by 23 paise to close at a two-month low of 74.10 against the US currency on Thursday, tracking weak domestic equities and strong dollar amid global risk aversion.
The rupee dived 32 paise to touch a near one-month low of 73.89 against the US dollar on Thursday, following massive sell-offs in equities and concerns over continuous surge in COVID-19 cases.
The rupee pared its initial gains to settle 6 paise lower at 74.82 against the US dollar on Wednesday due to suspected RBI intervention and uncertainty ahead of the release of minutes of the US Federal Reserve meeting.
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