The Indian rupee lost 15 paise to provisionally settle at a new lifetime low of 79.60 against the U.S. dollar on Tuesday, July 12, as the market mood was still negatively impacted by a strong dollar abroad and weak local equities.
At the interbank foreign exchange market, the local currency depreciated against the dollar, opening weak at 79.55. It reached an intraday high of 79.53 and a low of 79.66. At the end, the rupee dropped 15 paise from its previous closing of 79.45 to settle at 79.60.
The dollar index, which gauges the strength of the dollar against a group of six different currencies, increased by 0.48 percent to 108.54.
On the local equities market, the broad NSE Nifty slid 157.70 points or 0.97 percent to 16,058.30, while the BSE Sensex ended 508.62 points or 0.94 percent lower at 53,886.61. The NSE's 14 sector indicators all finished in the red. The NSE platform underperformed the sub-indices Nifty Auto, Nifty IT, Nifty Metal, and Nifty FMCG, which saw declines of up to 1.18 percent, 1.16 percent, 1.22 percent, and 1.14 percent, respectively.
According to exchange data, foreign institutional investors sold shares worth Rs170.51 crore on Monday, making them net sellers in the capital market.
Meanwhile, the benchmark for world oil, Brent crude futures, dropped 2.27 percent to USD 104.67 a barrel.
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