The rupee depreciated 4 paise to end at record low against the US dollar on Wednesday amid a stronger American currency overseas and rise in US Treasury yields. The rupee ended at 83.29 a dollar as compared to previous close of 83.25.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.04% at 106.75.
On Tuesday, the rupee settled at 83.25 against the American currency.
A weak trend in domestic equities, persistent foreign fund outflows and rise in crude oil prices weighed on the local unit.
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Global oil benchmark Brent crude futures rose 0.52% to $85.46 per barrel.
On the domestic front, equity benchmark indices extended their losses into the second consecutive session on Wednesday, amid mixed global cues ahead of the US Federal Reserve policy outcome.
The BSE Sensex closed 283.60 points, or 0.44%, lower at 63,591.33, while the broader NSE Nifty declined 90.45 points, or 0.47%, to 18,989.15.
Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth ₹696.02 crore, according to exchange data.
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