The rupee closed at its all-time low of 84.4925 per US dollar, down nearly 0.1% on Thursday. On an intraday basis, the local currency touched a record low of 84.495/$1, LSEG data showed.
Pressured by a sharp decline in Adani group shares, India’s benchmark stock indexes, the BSE Sensex fell 0.5% and Nifty 50 fell 0.7%. Stocks of the group’s listed firms fell after US authorities accused Gautam Adani for his alleged role in a $265-million scheme to bribe Indian officials. Foreign investors sold $4.1 billion from Indian stocks and bonds in November, depository data showed.
The rupee depreciated 10 paisa on Thursday, with a steady depreciation as the Reserve Bank of India protected the currency briefly at 84.45/$1 and 84.49/$1 levels, traders said. “The RBI did not protect any levels for a long time on Thursday and we saw a steady depreciation with foreign investors buying dollars,” said Anil Bhansali, head of treasury at Finrex Treasury Advisors.