Rupee plunges 61 paise to dip below 83-mark for first time against dollar
The Indian rupee has dipped another 61 paise and fallen below the 83-mark against the US dollar for the first time
The rupee plunged 61 paise to decline below the 83-mark for the first time against the US dollar on Wednesday amid unabated foreign capital outflows and a strong dollar in the overseas markets.
Besides, rising crude prices in the international markets and risk-averse sentiment among investors weighed on the local currency, traders said.
At the interbank foreign exchange market, the local currency opened strong at 82.32 but later pared gains to settle at an all-time low of 83.01(provisional) against the American currency, down 61 paise over its previous close.
In the previous session on Tuesday, the rupee slipped 10 paise to end at 82.40 against the dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.31 per cent to 112.48.
Global oil benchmark Brent crude futures rose 0.82 per cent to USD 90.77 per barrel.
On the domestic equity market front, the 30-share BSE Sensex gained 146.59 points or 0.25 per cent to end at 59,107.19, while the broader NSE Nifty advanced 25.30 points or 0.14 per cent to 17,512.25.
Foreign Institutional Investors (FIIs) remained net sellers in the capital markets as they offloaded shares worth Rs 153.40 crore on Tuesday, according to exchange data.
Meanwhile, benchmark stock indices Sensex and Nifty closed higher, rallying for the fourth straight session helped by buying in index majors Reliance Industries and HDFC twins.
The 30-share BSE Sensex rose by 146.59 points or 0.25 per cent to settle at 59,107.19. During the day, it rallied 439.09 points or 0.74 per cent to 59,399.69.
The broader NSE Nifty advanced 25.30 points or 0.14 per cent to end at 17,512.25.