Rupee hits record low of 83.33 against the US dollar

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 vs US Dollar

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.