The Indian Rupee depreciated 9 paise and hit record low of 83.33 against US dollar on Wednesday, driven by elevated US Treasury yields and weakness among its Asian peers.
Rupee fell to a low of 83.2950, slipping past its previous lifetime low of 83.29 hit in October last year. Besides the elevated US Treasury yields, a negative trend in domestic equities and elevated crude oil prices amid geopolitical uncertainty in the Middle East too weighed on investor sentiments.
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As per PTI, the rupee opened at 83.26 against the dollar at the interbank foreign exchange. During the trading session, it touched an intra-day low of 83.35 and a high of 83.26 against the American currency
On Tuesday, the rupee settled at 83.24 against USD. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.2% higher at 106.87.