<p>Mumbai: The rupee depreciated 31 paise to 92.32 against the US dollar in early trade on Thursday, pressured by FII outflows, rising global crude oil prices and a stronger greenback as the conflict in West Asia showed no signs of relenting.</p>.<p>A weak start to the session at the domestic equity markets further weighed on the local unit, according to traders.</p>.<p>At the interbank foreign exchange, the rupee opened at 92.25 against the US dollar and slipped further to 92.32, down 31 paise from its previous close.</p>.<p>The local unit declined 16 paise to settle at 92.01 against the US dollar on Wednesday.</p>.<p>"Escalations of attacks around the Strait of Hormuz and attacks on neighbouring countries pushed oil prices higher and the risk-off sentiment was supporting the dollar as a safe haven asset with prices of gold, along with silver, also falling," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.</p>.<p>"The Reserve Bank was protecting 92.00 levels yesterday (Wednesday) and may protect 92.30 levels today but the trend of the rupee still seems weak," he added.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.24 per cent higher at 99.47.</p>.<p>Brent crude, the global oil benchmark, was trading higher by 9.94 per cent at $101.12 per barrel in futures trade.</p>.<p>On the domestic equity market front, the Sensex plunged 827.58 points, or 1.08 per cent, to settle at 76,036.13, while the Nifty plummeted 310.55 points, or 1.13 per cent, to 23,556.30.</p>.<p>Foreign institutional investors sold equities worth Rs 6,267.31 crore on a net basis on Wednesday, according to exchange data.</p>
<p>Mumbai: The rupee depreciated 31 paise to 92.32 against the US dollar in early trade on Thursday, pressured by FII outflows, rising global crude oil prices and a stronger greenback as the conflict in West Asia showed no signs of relenting.</p>.<p>A weak start to the session at the domestic equity markets further weighed on the local unit, according to traders.</p>.<p>At the interbank foreign exchange, the rupee opened at 92.25 against the US dollar and slipped further to 92.32, down 31 paise from its previous close.</p>.<p>The local unit declined 16 paise to settle at 92.01 against the US dollar on Wednesday.</p>.<p>"Escalations of attacks around the Strait of Hormuz and attacks on neighbouring countries pushed oil prices higher and the risk-off sentiment was supporting the dollar as a safe haven asset with prices of gold, along with silver, also falling," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.</p>.<p>"The Reserve Bank was protecting 92.00 levels yesterday (Wednesday) and may protect 92.30 levels today but the trend of the rupee still seems weak," he added.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.24 per cent higher at 99.47.</p>.<p>Brent crude, the global oil benchmark, was trading higher by 9.94 per cent at $101.12 per barrel in futures trade.</p>.<p>On the domestic equity market front, the Sensex plunged 827.58 points, or 1.08 per cent, to settle at 76,036.13, while the Nifty plummeted 310.55 points, or 1.13 per cent, to 23,556.30.</p>.<p>Foreign institutional investors sold equities worth Rs 6,267.31 crore on a net basis on Wednesday, according to exchange data.</p>