The rupee fell 57 paise and closed Friday at 76.92 (provisional) against the US dollar, weighed down by a strong US currency abroad and robust crude oil prices.
In the interbank foreign exchange market, the rupee opened lower at 76.61 against the dollar, eventually closing at 76.92, down 57 paise from the previous close.
During the trading session, the rupee witnessed an intra-day high of 76.56 and a low of 76.96.
On Thursday, the rupee closed at 76.35.
The dollar index, which measures the dollar’s strength against a basket of six currencies, traded 0.30 percent lower at 103.44.
Global Brent crude oil futures rose 2.31 percent to $113.46 a barrel.
The 30-share BSE Sensex finished 866.65 points or 1.56 percent lower at 54,835.58, while the broader NSE Nifty fell 271.40 points or 1.63 percent to 16,411.25.
“The rupee had a blistering time today as it plunged around a percentage point due to risky moods and the surge in crude oil prices,” said Dilip Parmar, Research Analyst, HDFC Securities.
The dollar index hit a two-decade high of 104.06 and headed for its sixth consecutive weekly decline as market participants, aggressive Federal Reserves price in, dumped stocks and rushed to US Treasuries, Parmar added.
Foreign institutional investors were net sellers in the capital market on Thursday as they sold shares worth Rs 2,074.74 crore, according to stock market data.