The rupee settled down at 83.10 (provisional) against the dollar on Thursday, at a fresh all time low, down by a strong dollar overseas and a negative trend in domestic markets, reported the ET. Earlier, the rupee had opened at 83.10 against the dollar.

Forex traders were of the view that rupee was likely to trade low owing to the risk aversion sentiments seen in the global markets and the rise in dollar.

Last Monday, rupee was at an all-time low at 83.08 against the dollar, having depreciated by 26 paise. Forex market stayed closed on both Tuesday and Wednesday owing to Independence Day and Parsi New Year. Meanwhile, the dollar rose by 0.05 per cent to 103.48. The global oil benchmarks came ahead by 0.52 per cent to USD 83.88 per barrel.

“The Indian rupee traded lower in line with the Asian currencies and risk-averse sentiments,” said Dilip Parmar, Research Analyst, HDFC Securities, the ET reported.

The dollar drove on a good momentum owing to the Federal Open Market Committee’s (FOMC) minutes which signaled to more openness than constraining measures. Though at a low now, there is optimism that the rupee will pick up.

At the domestic markets, the BSE closed at 388.40 points or 0.59 per cent lower at 65,151.02 points and the NSE Nifty closed at a low of 99.75 points or 0.51 percent at19,365.25 points. As per the exchange data, Foreign Institutional Investors (FIIs) bought shares worth Rs 722.76 crore, at the capital markets.