Indian Rupee Versus US Dollar Today

Indian Rupee Vs Dollar Today: Weakened by ongoing foreign capital outflows, a strong dollar overseas, and an increase in crude oil prices, the Indian rupee lost 18 paisas to reach a record low versus the US dollar on Wednesday, closing provisionally at 79.03.

The rupee depreciated against the dollar at the interbank foreign currency market, starting at 78.86 and ending at 79.03, losing 18 paise from its previous level. The rupee hit an all-time low against the dollar during the session at 79.05.

The local currency has fallen by a startling 6.39 percent since the beginning of this year and is down 1.97 percent so far this month. The dollar index, a measure of the strength of the dollar against a basket of six different currencies, was trading 0.13 percent higher at 104.64 at the time. Meanwhile, Brent crude futures, the benchmark for all crude oil, gained by 0.34 percent to USD 118.38 a barrel.

On the Indian share market front, the 30-share BSE Sensex dropped 150.48 points or 0.28 percent to close at 53,026.97,  while the NSE Nifty dropped 51.10 points or 0.32 percent to close at 15,799.10.

According to stock exchange data, foreign institutional investors sold shares worth 1,244.44 crore on Tuesday, creating a net selling situation in the capital market.

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