Mumbai, Aug 30: The Indian rupee plunged to a fresh record low of 70.81 to a US dollar during the morning trade session on Thursday.
Around 10am (India time) the rupee was pegged at 70.68 after it touched 70.81 to a US dollar - the lowest ever mark - against the greenback.
Against the UAE dirham, the rupee was trading at 19.27 at 8:00am (UAE time), according to XE.com.
It opened the day's trade at the Interbank foreign exchange market at 70.58 to a US dollar and soon surpassed its record low of 70.65 to a greenback on Wednesday.
According to analysts, continuous outflow of foreign funds, along with caution ahead of key macro-economic data, coupled with volatile global crude oil prices pulled the Indian rupee to a fresh low.
"Importers month-end US dollar demand and high crude oil prices have pulled the rupee lower," Anand Rathi Shares and Stock Brokers research analyst Rushabh Maru said.
On Wednesday, the Indian rupee had plunged to 70.65-66 - the lowest ever mark - against the greenback.
Key equity market indices open in green
Meanwhile, the key Indian equity market indices on Thursday opened higher despite a muted trend in global markets.
The Sensitive Index (Sensex) of the BSE, which had closed at 38,722.93 points on Wednesday, opened higher at 38.796.98 points.
Minutes into trading, it was quoting at 38,753.10 points, up by 30.17 points, or 0.08 per cent.
At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 11,691.90 points on Wednesday, was quoting at 11,693.15 points, up marginally by 1.25 points or 0.01 per cent.
The equity indices closed in the negative territory on Wednesday as the rupee slumped to an all-time low, while weak global cues further subdued the sentiments, according to analysts.
The Sensex was down by 173.70 points or 0.45 per cent at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 38,989.65 points and a low of 38,679.57 points. The Nifty, was down by 46.60 points or 0.40 per cent.
On Thursday, Asian indices were showing a mixed trend. Japan's Nikkei 225 was quoting in green, up by 0.06 per cent while Hang Seng was down by 0.66 per cent, South Korea's Kospi was up 0.06 per cent. China's Shanghai Composite index was trading in red, down by 0.79 per cent.
Overnight, Nasdaq closed in green, up by 0.98 per cent while FTSE 100 was down by 0.71 per cent at the closing on Wednesday.
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