Indian rupee depreciated on a strong dollar. Rupee opened lower at 72.50 against US dollar, witnessed an intra-day high of 72.49 and a low of 72.69. The rupee closed at 72.56, registering a decline of 12 paise on Wednesday, weighed down by a massive selloff in domestic equities and spike in global crude oil prices. Besides, strengthening American currency in the overseas market amid foreign fund outflows also impacted the domestic unit.
On the domestic equity market front, the 30-share BSE benchmark Sensex crashed 871.13 points to end at 49,180.31, and the broader NSE Nifty dived 265.35 points to 14,549.40.
US dollar appreciated against major currency except JPY. EUR/ USD was down 0.26% to 1.1825. USD/JPY was down by 0.02% to 108.69.GBP/USD down by 0.37% to 1.3709.