The Indian rupee fell 30 paise on Thursday, reaching an all-time low of 77.55 when trading opens against the US dollar amid a broader decline in Asian currencies and a lackluster trend in domestic stock markets.
The rupee fell to a record low for the second time this week.
Foreign fund outflows and increased crude oil prices also impacted domestic unity, forex traders said.
On interbank currencies, the rupee opened sharply lower at 77.52 against the US dollar before losing further ground to trade at 77.55, falling 30 paise from the last closing price.
In the previous session, the rupee had fallen to 77.25 against the dollar.
The dollar index, which measures the dollar’s strength against a basket of six currencies, was trading 0.10 percent higher at 103.95.
In the domestic stock market, BSE Sensex and NSE Nifty broke nearly 2 percent early in trading as April inflation data in the US, which ran high in April, eroded investor confidence.
At home, investors were also waiting for April’s inflation data, which was set to be released at 5:30 p.m. today.
Meanwhile, the Reserve Bank of India (RBI) is likely to raise inflation projections at the Monetary Policy Committee (MPC) meeting next month and would also consider a rate hike to tame inflation above comfort levels, sources said.