The Indian rupee fell 11 paise to a new lifetime low of Rs.77.85 against the US dollar on Friday, driven down by a sell-off in domestic markets and a stronger greenback overseas. Forex traders said the rupee was hurt by persistent foreign capital outflows, rising global crude oil prices, and risk-averse views.

The rupee began trading at Rs.77.81 on the interbank foreign currency market, moving with an intraday high of Rs.77.79 and a low of Rs.77.87 against the US dollar. The rupee finally finished at Rs.77.85, an all-time low, down 11 paise from its previous level of Rs.77.74.

The dollar index, which measures the strength of the greenback against a basket of six currencies, increased 0.20 percent to 103.43. Meanwhile, the global oil benchmark, Brent crude futures, rose 0.51 percent to USD123.70 per barrel.

The BSE Sensex fell 1,016.84 points, or 1.84 percent, to 54,303.44, while the broader NSE Nifty down 276.30 points, or 1.68 percent, to 16,201.80. According to stock exchange data, foreign institutional investors were net sellers in the capital market on Thursday, offloading shares worth Rs.1,512.64 crore.

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