INR Plunges To Fresh Record Lows

The Indian rupee hit fresh record low against the dollar on Thursday tracing strength in dollar overseas coupled with wide swings in the local equities through the day. The domestic currency plunged to an intraday low of Rs 83.68 per dollar before paring losses to end the day at 83.61 in the spot market, losing 0.17% on the day. Benchmark indexes swung between gains and losses all through the day due to the weekly F&O expiry. The 30-share S&P/BSE Sensex ended the session up 141.34 points, or 0.18 percent, at 77,478.93 while the broader NSE Nifty index closed up 51 points, or 0.22 percent, at 23,567. Meanwhile, surging crude oil prices due to renewed geopolitical tensions in the Middle East also weighed on the local unit. At the interbank foreign exchange market, the local unit opened at 83.43 and touched the intra-day high of 83.42 against the greenback.