Due to the strength of the US dollar and significant selling in the domestic equity market, the rupee declined by 24 paise to close Friday at 82.44 against the US dollar.
As the US dollar strengthened against other major currencies, the local currency in the interbank foreign exchange market opened 12 paise down at 82.32.
The rupee's value versus the dollar ranged from 82.20 to 82.49 during intraday activity.
The native currency ultimately made a settlement at 82.44 against the US dollar, down 24 paise from the previous day.
On Thursday, the rupee settled at 82.20 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.67 per cent higher at 103.22.
The benchmark for global oil, Brent crude, plunged drastically by 3.23% to USD 73.46 per barrel.
Due to news that the US is likely to delay replenishing its strategic oil reserves despite current low oil prices, trading on the global equities markets was muted.
The benchmark BSE Sensex was down 398.18 points or 0.69 percent to close at 57,527.10 points on the domestic equities market, while the wider Nifty fell 138.85 points or 0.77 percent to close at 16,945.05 points.
According to exchange data, Foreign Portfolio Investors (FPIs) sold shares worth Rs 995 crore on Thursday, making them net sellers.
With inputs from Agencies.
(To receive our E-paper on WhatsApp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)