<p>Mumbai: The rupee depreciated 4 paise to 83.12 against the US dollar in early trade on Wednesday, tracking a negative trend in domestic equities.</p><p>Forex traders said the strength of the American currency and elevated crude oil prices in the international market dented investors' sentiments.</p><p>At the interbank foreign exchange, the rupee opened at 83.11 against the dollar and touched an early low of 83.12 and a high of 83.09 in initial trade.</p><p>On Tuesday, the rupee depreciated 8 paise to close at 83.08 against the US dollar.</p><p>"The Indian rupee is expected to fall to 83.08 as all risk assets fell against the mighty dollar with Gold also falling below Rs 1,66,160 ($2,000) per ounce to Rs 1,65,454.65 ($1,991.51)," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p>.Stock market slides in early trade; Sensex slumps over 675 points.<p>"Flows should continue in the currency thus keeping it range bound after the lower opening," said Bhansali.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 104.81, lower 0.14 per cent.</p><p>Brent crude futures, the global oil benchmark, fell 0.16 per cent to Rs 6,865.73 ($82.64) per barrel.</p><p>In the domestic equity market, the 30-share BSE Sensex was trading 617.81 points or 0.86 per cent lower at 70,937.38 points. The broader NSE Nifty was down 180.50 points or 0.83 per cent to 21,562.75 points.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday as they purchased shares worth Rs 376.32 crore, according to exchange data.</p>
<p>Mumbai: The rupee depreciated 4 paise to 83.12 against the US dollar in early trade on Wednesday, tracking a negative trend in domestic equities.</p><p>Forex traders said the strength of the American currency and elevated crude oil prices in the international market dented investors' sentiments.</p><p>At the interbank foreign exchange, the rupee opened at 83.11 against the dollar and touched an early low of 83.12 and a high of 83.09 in initial trade.</p><p>On Tuesday, the rupee depreciated 8 paise to close at 83.08 against the US dollar.</p><p>"The Indian rupee is expected to fall to 83.08 as all risk assets fell against the mighty dollar with Gold also falling below Rs 1,66,160 ($2,000) per ounce to Rs 1,65,454.65 ($1,991.51)," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p>.Stock market slides in early trade; Sensex slumps over 675 points.<p>"Flows should continue in the currency thus keeping it range bound after the lower opening," said Bhansali.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 104.81, lower 0.14 per cent.</p><p>Brent crude futures, the global oil benchmark, fell 0.16 per cent to Rs 6,865.73 ($82.64) per barrel.</p><p>In the domestic equity market, the 30-share BSE Sensex was trading 617.81 points or 0.86 per cent lower at 70,937.38 points. The broader NSE Nifty was down 180.50 points or 0.83 per cent to 21,562.75 points.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday as they purchased shares worth Rs 376.32 crore, according to exchange data.</p>