Rupee Plunges 11 Paise to 83.93 Against US Dollar

MUMBAI: Rupee depreciated 11 paise to 83.93 against the US dollar in early trade on Thursday due to rising crude oil prices and negative sentiment in the domestic equity markets amid concerns over escalating tension in the Middle East.

Unabated outflow of foreign funds from capital markets and a strengthening American currency also weighed on the Indian currency, forex traders said.

At the interbank foreign exchange, the local unit opened at 83.91 and lost further ground to touch 83.93 against the greenback, trading 11 paise lower from its previous session’s closing level.