Rupee falls 9 paise to close at all-time low of 83.35 against US dollar

Rupee falls 9 paise to close at all-time low of 83.35 against US dollar

Mumbai, Nov 20 (PTI) The rupee declined by 9 paise to settle at its all-time low of 83.35 against the US dollar on Monday, tracking a negative trend in domestic equities.

Foreign fund outflows also weighed on the local unit, forex traders said.

At the interbank foreign exchange market, the local unit opened at 83.25 and settled at its lifetime low level of 83.35 against the dollar, registering a fall of 9 paise from its previous close.

On Friday, the rupee settled at 83.26 against the American currency. Earlier, the rupee closed at its lowest level of 83.33 against the dollar on November 13, this year.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.42 per cent lower at 103.48.

Brent crude futures, the global oil benchmark, rose 0.66 per cent to USD 81.14 per barrel.

On the domestic equity market front, Sensex fell 139.58 points or 0.21 per cent to settle at 65,655.15 points. The Nifty declined 37.80 points or 0.19 per cent to 19,694.00 points.

Foreign institutional investors (FIIs) were net sellers in the capital markets on Friday as they sold shares worth Rs 477.76 crore, according to exchange data.

Meanwhile, India's forex kitty decreased by USD 462 million to USD 590.321 billion for the week ended November 10, the Reserve Bank said on Friday.

In the previous week, the overall reserves had increased by USD 4.672 billion to USD 590.783 billion. PTI DRR MR

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