The Indian rupee lost 12 paise to close at 77.66 today against the dollar, following a downward trend in local equities and rising crude oil prices.
The rupee opened lower against the greenback in the interbank foreign exchange market, at 77.65, and eventually settled at 77.66, down 12 paise from its previous level. The rupee hit an intraday low of 77.70 and a high of 77.62 during the session. The rupee has fallen for the sixth month in a row, owing to weak risk sentiment, foreign investment outflows, and fears about high inflation.
The dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.04 percent at 101.70. Brent crude prices rose 1.77 percent to USD 123.82 a barrel, the global benchmark.
On the Indian stock market front, the 30-share BSE Sensex slid 359.33 points, or 0.64 percent, to 55,566.41, while the wider NSE Nifty dropped 76.85 points, or 0.46 percent, to 16,584.55. According to stock exchange data, foreign institutional investors became net purchasers on May 30, purchasing shares worth Rs502.08 crore.
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