Rupee Declines 9 Paise To Settle At All-Time Low Of 83.35 Against US Dollar

The rupee witnessed a decline by 9 paise to close 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, as per forex traders.

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, according to a PTI report.

Earlier last week 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, stated the PTI report.

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, PTI reported.

In the earlier week, overall reserves had jumped by USD 4.672 billion to USD 590.783 billion.