The rupee extended the slide for the second straight session and depreciated 9 paise to settle at a fresh all-time low of 85.20 (provisional) against the US dollar on Tuesday, dragged by a strong greenback against major crosses overseas and subdued domestic equities.<\/p>\n\n\n\n
According to analysts, increased demand of dollar due to month-end payment obligation and the fear of an aggressive import tariff by the Donald Trump administration in the US strengthened the greenback.<\/p>\n\n\n\n
Besides, surging crude oil prices pushed the rupee down further, they added.<\/p>\n\n\n\n
At the interbank foreign exchange, the rupee opened at 85.10 and touched the lowest ever level of 85.21 against the greenback during intra-day. The unit finally ended the session at a fresh all-time low of 85.20 (provisional) against the dollar, registering a loss of 9 paise from its previous close.<\/p>\n\n\n\n
On Monday, the rupee settled 7 paise lower at 85.11 against the US dollar.<\/p>\n\n\n\n
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.11% at 107.93, amid soaring US Treasury yields and the fear of delayed interest rate cuts by the US Federal Reserve.<\/p>\n\n\n\n
Brent crude, the global oil benchmark, rose 0.69% to $73.13 per barrel in futures trade.<\/p>\n\n\n\n
In the domestic equity market, the 30-share BSE Sensex closed lower by 67.30 points, or 0.09%, at 78,472.87 points, while Nifty fell 25.80 points, or 0.11% to close at 23,727.65 points.<\/p>\n\n\n\n
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth \u20b9168.71 crore, according to exchange data.<\/p>\n\n\n\n
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