The rupee closed at 83.3938/$1 a new record closing low. The domestic currency, which has depreciated by 0.8% against the US dollar on a closing basis so far in 2023, had closed at 83.3262/$1 on Wednesday.
"When the dollar index was at 107, we were near 83.30. Now the dollar index is at 102, we re still near 83.30," a foreign exchange trader at a private bank said.
Equity inflows worth $1.5 billion are expected this week following MSCI s decision to increase India s weight in its Emerging Market index effective from Nov. 30, according to Nuvama Alternative & Quantitative Research.