Mumbai, March 27 The rupee plunged by 86 paise to close at another all-time low of 94.82 (provisional) against the US dollar on Friday, weighed down by high oil prices and a stronger dollar amid uncertainty over the West Asia conflict.
A sharp decline in the domestic equity markets and sustained outflows from foreign investors put further pressure on the local currency, according to forex traders.
At the interbank foreign exchange market, the rupee opened at 94.18 and breached the 94.50-mark for the first time before closing at 94.82 (provisional) against the US dollar, down 86 paise from its previous close.
The rupee fell by 20 paise to close at a record low of 93.96 against the US dollar on Wednesday. Stock, forex, commodity, and bullion markets remained closed on Thursday due to Ram Navami.
The dollar index, which gauges the strength of the dollar against a basket of six currencies, was trading 0.11 per cent higher at 100.
Brent crude, the global oil benchmark, was trading at USD 109.8 per barrel, up 0.53 per cent, in futures trade.
On the domestic equity market front, the Sensex crashed by 1,690.23 points, or 2.25 per cent, to 73,583.22 points, while the Nifty fell by 486.85 points, or 2.09 per cent, to 22,819.60.
Foreign institutional investors sold equities worth Rs 1,805.37 crore on a net basis on Wednesday, according to exchange data.