Rupee falls 8 paise to new low against US dollar

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Rupee falls 8 paise to new low against US dollar

The rupee fell 8 paise to a new low of 77.82 against the US dollar in opening trade on Friday, tracking the strength of the dollar in the overseas market.

The rupee closed on a weak note at 77.81 against the American dollar, but lost ground to 77.82 its all-time low level, registering a fall of 8 paise from the last close.

The rupee fell by 6 paise to close at 77.74 against the US dollar on Thursday.

Sriram Iyer, Senior Research Analyst at Reliance Securities, said the rupee was weakened against the dollar this Friday, as it was tracking the overnight strength of the dollar.

Asian and emerging market peers have started mixed, while Asian equity is under pressure and could weigh on sentiments, Iyer noted.

Brent crude futures fell by 0.66 per cent to USD 122.26 per barrel.

The dollar index, which gauges the strength of the dollar against a basket of six currencies, was trading 0.04 per cent lower at 103.17.

On the domestic equity market front, the 30-share Sensex was trading 620.68 points or 1.12 per cent lower at 54,699. The NSE Nifty declined by 165.30 points or 1 per cent to 16,312. Foreign institutional investors offloaded shares worth 1,512 on Thursday, which was net sellers in the capital market. According to stock exchange data, 64 crore were made up of.