The Indian rupee lost 17 paise to end the day at 79.32 (provisional) against the dollar on Thursday, hurt by unfavourable macroeconomic data and tensions between the US and China. 

The local currency at the interbank foreign exchange market started at 79.21 and closed at 79.32, down 17 paise from its previous level.

The rupee experienced its greatest one-day decline in the current fiscal year on Wednesday, falling 62 paise to settle at 79.15. The dollar index, which measures how strong the dollar is relative to a basket of six different currencies, decreased 0.27 percent to 106.22. The benchmark for world oil, Brent crude futures, up 0.69 percent to $97.45 a barrel.

On Indian stock market front, the BSE Sensex closed 51.73 points, or 0.09 percent, lower at 58,298.80 points on the domestic equities market, while the NSE Nifty slid 6.15 points, or 0.04 percent, to 17,382.00 points.

According to exchange data, foreign institutional investors continued to be net purchasers on the capital market on Wednesday, buying shares worth 765.17 crore.

As investors evaluate the dangers involved with the U.S.-China tensions, forex traders claim that the rupee is underperforming other Asian currencies due to a record-high trade deficit and demand for the dollar as a safe haven.
For the first time in 17 months, India's exports fell slightly in July, but the trade imbalance tripled to a record $31 billion, driven by a more than 70% increase in crude oil imports.

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