Mumbai: The Indian currency slipped down to an all-time low against the UAE dirham and the US dollar. The rising crude oil prices, a negative trend in the Indian equities, strengthening of the US dollar and risk-averse sentiment among investors weighed on the domestic currency.
At the Indian interbank foreign exchange, the Indian rupee opened at 82.68 against the US currency. During trading, it then slipped to 82.69, registering a fall of 39 paise over its previous close. The local currency is trading at 22.53 against the UAE dirham. On Friday, the Indian rupee depreciated further by 13 paise to hit a new lifetime closing low of 82.30 against the US dollar.
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The dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.02% up at 112.81. Foreign institutional investors were net sellers in the Indian capital market as they offloaded shares worth Rs 22.5 billion.
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