Rupee vs Dollar : The rupee fell 4 paise to a new record low of 85.83 (provisional) against the US dollar on Monday amid a sharp decline in local stock markets and continued withdrawal of foreign funds. Foreign exchange traders said the US dollar attracted people's attention as a safe investment due to the rise in US bond yields and concerns over the outbreak of 'HMPV virus'.

The rupee opened at 85.77 at the interbank foreign exchange market and touched an all-time low of 85.84 per dollar during the day's trade. At the end of trading, it closed at its record low of 85.83 (provisional), down four paise from its previous close. The rupee had closed at 85.79 against the US dollar on Friday, down four paise.

Anuj Chaudhary, Research Analyst, Mirae Asset Sharekhan, said that the rupee fell to a new record low amid weakness in domestic markets and continued FII withdrawals. The rupee also came under pressure due to rising US bond yields and fear of HPV virus. Chaudhary said that however, the rupee may get support at lower levels due to the weakness of the US dollar and the intervention of the Reserve Bank of India (RBI). He said that the rupee can trade in the range of 85.65 to 86.10 against the US dollar.

Meanwhile, the dollar index, which gauges the US dollar's strength against a basket of six major currencies, was down 0.33 per cent at 108.44. Global oil benchmark Brent crude futures fell 0.31 per cent to USD 76.27 per barrel. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 4,227.25 crore on Friday.