<p>Mumbai: The rupee consolidated in a narrow range and depreciated 3 paise to close at its all-time low of 83.66 (provisional) against the US dollar on Friday, weighed down by strong American currency and muted trend in domestic equities.</p><p>Forex traders said weak domestic markets and elevated oil prices pressured the rupee, however, likely Reserve Bank of India (RBI) intervention prevented a sharp fall in the domestic unit.</p><p>At the interbank foreign exchange market, the local unit opened at 83.64, and touched an intra-day high of 83.60 and a low of 83.66 against the dollar during the trading session.</p>.Rupee trades in narrow range against US dollar in early trade.<p>It finally settled at an all-time low level of 83.66 (provisional) against the American currency, registering a loss of 3 paise from its previous close.</p><p>On Thursday, the rupee depreciated 5 paise and settled at a new low of 83.63 against the US dollar.</p><p>"We expect the rupee to trade with a slight negative bias on weak global markets and a strength in the US Dollar. Weak Asian and European currencies may also weigh on the rupee," Anuj Choudhary -- Research Analyst at Sharekhan by BNP Paribas -- said.</p><p>Choudhary said Foreign Institutional Investors (FIIs) inflows and any intervention by the RBI may support the rupee at lower levels. "USDINR spot price is expected to trade in a range of Rs 83.40 to Rs 83.90," he said.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.16 per cent at 104.33.</p><p>Brent crude futures, the global oil benchmark, were trading marginally lower by 0.07 per cent at USD 85.05 per barrel.</p><p>In the domestic equity market, the 30-share BSE Sensex tumbled 738.81 points to settle at 80,604.65 and Nifty dropped 269.95 points to 24,530.90.</p><p>Meanwhile, the Asian currencies were all down after a fall in European currencies as the European Central Bank (ECB) kept rates unchanged in its meeting with a possibility of a cut in September, traders said.</p><p>FIIs were net buyers in the capital markets on Thursday as they purchased shares worth Rs 5,483.63 crore, according to exchange data.</p>
<p>Mumbai: The rupee consolidated in a narrow range and depreciated 3 paise to close at its all-time low of 83.66 (provisional) against the US dollar on Friday, weighed down by strong American currency and muted trend in domestic equities.</p><p>Forex traders said weak domestic markets and elevated oil prices pressured the rupee, however, likely Reserve Bank of India (RBI) intervention prevented a sharp fall in the domestic unit.</p><p>At the interbank foreign exchange market, the local unit opened at 83.64, and touched an intra-day high of 83.60 and a low of 83.66 against the dollar during the trading session.</p>.Rupee trades in narrow range against US dollar in early trade.<p>It finally settled at an all-time low level of 83.66 (provisional) against the American currency, registering a loss of 3 paise from its previous close.</p><p>On Thursday, the rupee depreciated 5 paise and settled at a new low of 83.63 against the US dollar.</p><p>"We expect the rupee to trade with a slight negative bias on weak global markets and a strength in the US Dollar. Weak Asian and European currencies may also weigh on the rupee," Anuj Choudhary -- Research Analyst at Sharekhan by BNP Paribas -- said.</p><p>Choudhary said Foreign Institutional Investors (FIIs) inflows and any intervention by the RBI may support the rupee at lower levels. "USDINR spot price is expected to trade in a range of Rs 83.40 to Rs 83.90," he said.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.16 per cent at 104.33.</p><p>Brent crude futures, the global oil benchmark, were trading marginally lower by 0.07 per cent at USD 85.05 per barrel.</p><p>In the domestic equity market, the 30-share BSE Sensex tumbled 738.81 points to settle at 80,604.65 and Nifty dropped 269.95 points to 24,530.90.</p><p>Meanwhile, the Asian currencies were all down after a fall in European currencies as the European Central Bank (ECB) kept rates unchanged in its meeting with a possibility of a cut in September, traders said.</p><p>FIIs were net buyers in the capital markets on Thursday as they purchased shares worth Rs 5,483.63 crore, according to exchange data.</p>