The rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 (provisional) against the US dollar today, weighed down by a surge in crude oil prices and strong American currency.
Forex traders said the Indian rupee depreciated today as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
At the interbank foreign exchange market, the local unit opened at 83.08 against the US dollar and moved in a range of 83.02 to 83.18 in the day trade.
The rupee finally settled at 83.14 (provisional) against the US dollar, down 10 paise from its previous close.
The India currency earlier hit the lowest level of 83.13 on August 21 this year.
On Tuesday, the rupee plunged by 33 paise to close at 83.04 against the US dollar.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday as they offloaded shares worth ₹ 1,725.11 crore, according to exchange data.
