Rupee plummets 30 paise to 76.83 against US dollar in early trade

The Indian rupee depreciated by 30 paise to 76.83 against the US dollar in opening trade on Tuesday, tracking weak domestic equities and strengthening of the US dollar overseas.

Forex traders said the rupee opened on a weak note as the US Dollar edged higher past the 100 level mark.

The rupee opened weak at 76.79 at the interbank forex market and then fell further to 76.83, down 30 paise over its last close.

The rupee had settled at 76.53 against the US dollar on Monday.

"Investors braced for further cues on the economic toll from the coronavirus in a week lined with corporate earnings and data this week," Reliance Securities said in a research note.

Domestic bourses opened on a negative note with benchmark indices Sensex trading 915.95 points lower at 30,732.05 and Nifty down by 256.60 points at 9,005.25.

According to Reliance Securities, "rupee could track domestic equity markets, which could track a fall in Asian equities"