Early on Thursday, due to the strength of the US dollar in the foreign exchange market, the rupee lost 8 paise to reach 82.76 versus the dollar.
The domestic unit at the interbank foreign exchange started at 82.76, a decrease of 8 paise from its previous level.
On Wednesday, the rupee’s exchange rate to the dollar was 82.68.
The dollar index, which measures how strong the dollar is relative to a basket of six other currencies, increased 0.14 percent to 104.02.
The desire for safe havens helped the US Dollar Index begin Thursday morning’s Asian trade flat to slightly firmer above the USD 104 levels, according to Sriram Iyer, Senior Research Analyst- Commodities & Currencies, Reliance Securities Limited.
According to Iyer, the Chinese Yuan has weakened even further, and a general aversion to risk will also limit the local currency’s potential for appreciation.
The benchmark for world oil, Brent crude futures, decreased 0.05% to USD 78.32 a barrel.
The 30-share BSE Sensex was down 27.21 points, or 0.04 percent, at 61,746.57 on the domestic equities market. The NSE Nifty index as a whole dropped 5.90 points, or 0.03 percent, to 18,279.50.
According to exchange statistics, foreign institutional investors (FIIs) were net purchasers on Wednesday in the capital markets, buying shares worth Rs 1,185.84 crore.