MUMBAI, Mar 20: The Indian rupee declined by 19 paise to hit a record intra-day low of 93.08 against the US dollar in early trade on Friday, pressured by a strengthening greenback and continued FII outflows amid the ongoing West Asia tensions.
Forex traders said elevated global crude oil prices further weighed on the domestic currency, although a positive opening in the equity markets helped limit sharper losses. The rupee had earlier closed 49 paise lower at a record 92.89 against the US dollar on Wednesday.
Forex markets remained closed on Thursday due to the Gudhi Padwa.
“The rupee appears vulnerable, with the RBI intervening by selling dollars to prevent further depreciation. FPIs remained net sellers as Sensex and Nifty slipped to a 21-month low,” said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP.
Meanwhile, the dollar index, which measures the US currency against a basket of six major currencies, rose 0.17 per cent to 100.25.
Brent crude, the global oil benchmark, was trading 1.64 per cent lower at USD 106.9 per barrel in futures trade.
In the domestic equity market, the Sensex rebounded strongly, rising 960.67 points (1.29 per cent) to 75,167.91, while the Nifty gained 311.50 points (1.35 per cent) to reach 23,313.65.
According to exchange data, foreign institutional investors sold equities worth Rs 7,558.19 crore on a net basis on Thursday. (Agency)
