Mumbai: The Indian rupee touched an all-time low against the US dollar in the forex market. As per the market experts, the strengthening of the American currency, negative trend in the Indian equity market, and firm crude oil prices weighed upon the Indian rupee.
At the interbank foreign exchange, the local currency was trading at 80.47 against the dollar, down 51 paise from its previous close. The rupee opened at 80.27 and touched a record low of 80.47 a dollar in initial trading. On Wednesday, the Indian rupee declined 22 paise to close at 79.96 against the US dollar.
Also Read: Friendly relations between nations and other issues discussed on meeting between Israeli and Turkish leaders since 2008
The dollar index, which measures the US dollar’s strength against a basket of six currencies, advanced 0.88% to 111.61. Foreign institutional investors were net sellers in the Indian capital market as they offloaded shares worth Rs 461.04 crore.