Even though oil prices fell and local equities finished on a positive note, the Indian rupee sank by 10 paise to close at 77.60 against the US dollar on Thursday.
The rupee consolidated in a limited range on the interbank foreign currency market. It opened lower against the dollar at 77.61 and eventually finished at 77.60, down 10 paise from the previous level. The rupee hit an intraday low of 77.63 and a high of 77.54 during the session.
The dollar index, which measures the strength of the greenback against a basket of six currencies, was down 0.25 percent at 102.24. Brent crude futures declined 2.27 percent to $113.65 a barrel, the global benchmark.
On the Indian stock market front, the 30-share BSE Sensex closed the day 436.94 points higher, or 0.79 percent, at 55,818.11, while the wider NSE Nifty climbed 105.25 points, or 0.64 percent, to 16,628.00. According to stock exchange data, foreign institutional investors were net sellers in the capital market on Wednesday, offloading shares worth Rs 1,930.16 crore.
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