The Indian rupee fell by 9 paise to close at a fresh record low of 79.90 against the US dollar on Thursday, on account of a strong U.S. dollar in foreign markets and capital outflows. 

In relation to the US dollar, the rupee falls 9 paisas to a lifetime low of Rs. 79.90. However, a drop in crude oil prices on the world market curbed rupee losses, Forex analysts said.

The local currency opened strongly at Rs. 79.72 on the interbank foreign exchange market and moved to an intraday high of Rs. 79.71 and a low of Rs. 79.92 against the U.S. dollar in day trade.  Finally, the local currency decreased 9 paise from its previous close to conclude at Rs. 79.90 for one dollar.

As the U.S. dollar continued to rise against a basket of major global currencies in early European trade, the rupee reduced its early gains. At 108.36, the dollar index, which measures the value of the dollar against a basket of six different currencies, was trading 0.37 percent higher. Meanwhile, the benchmark for world oil, Brent crude futures, fell 2.20 percent to USD97.38 a barrel.

On the Indian stock market front, the BSE Sensex closed 98 points or 0.18 percent lower at 53,416.15 on the local equities market, while the larger NSE Nifty fell 28.00 points or 0.18 percent to 15,938.65.

According to exchange data, foreign institutional investors sold shares worth Rs. 2,839.52 crore on Thursday, making them net sellers in the capital market.

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