On Wednesday, amid ongoing outflows of foreign money and a strong dollar in international markets, the rupee fell 61 paise to go below the 83-mark for the first time.
Additionally, higher petroleum prices on global markets and investor aversion to risk hurt the local currency, according to traders.
The local currency started out strongly on the interbank foreign exchange market at 82.32 but eventually gave up gains to conclude at an all-time low of 83.01(provisional) against the US dollar, down 61 paise from its previous closing.
The rupee lost 10 paise to conclude the previous session on Tuesday at 82.40 against the dollar.
The dollar index, which measures the strength of the dollar against a basket of six different currencies, increased by 0.31 percent to 112.48.
Benchmark Brent crude futures for the world’s oil increased 0.82 percent to USD 90.77 a barrel.
The 30-share BSE Sensex ended the day up 146.59 points, or 0.25 percent, at 59,107.19, while the larger NSE Nifty gained 25.30 points, or 0.14 percent, to 17,512.25.
According to exchange data, Foreign Institutional Investors (FIIs) continued to be net sellers in the capital markets on Tuesday, selling shares worth Rs 153.40 crore.