Reversing all its early gains, the Indian rupee nosedived to its life-time low of 69.62, tumbling by 79 paise against the US dollar in morning trade today in line with weakening domestic equities and global markets rout.
The rupee's previous record low was 69.13, marked on July 20, 2018.
Meanwhile, the BSE Sensex fell over 288 points and the NSE Nifty dipped below the 11,400-level in opening trade today on heavy losses in PSUs, auto, metal and banking counters amid a global rout in equity markets.
A weak trend in Asia coupled with sell-offs on Wall Street last week and a slump in the Turkish lira dampened the sentiment globally, brokers said.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 510.66 crore Friday, as per provisional data.
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