Due to ongoing foreign capital outflows and an increase in crude oil prices, the rupee fell 46 paise to a record low of 78.83 against the US dollar on Tuesday.
The rupee depreciated against the dollar at the interbank foreign currency market, opening at 78.53 and closing at 78.83, down 46 paise from its previous level.
The rupee hit an all-time low against the dollar during the session at 78.85. The dollar index, a measure of the dollar's strength versus a basket of six different currencies, was trading 0.01 percent higher at 103.95 at the time.
The markets are reevaluating their anticipation of a Fed rate increase. The report on U.S. consumer sentiment, which is predicted to decline from the previous month, may potentially provide as guidance for traders. Meanwhile, Brent crude futures, the benchmark for all crude oil, increased 1.89 percent to USD 117.26 a barrel.
On the Indian stock market front, the 30-share BSE Sensex closed 16.17 points or 0.03 percent higher at 53,177.45 on the domestic equities market, while the NSE Nifty gained 18.15 points or 0.11 percent to 15,850.20. According to stock exchange data, foreign institutional investors sold shares worth Rs. 1,278.42 crore on Monday.