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The rupee weakened on Tuesday, to touch a record low of 77.73 versus the dollar, tracking broad gains in the US currency alongside weakening in offshore markets, with traders watching the domestic share market for clues to fund flows.
The partially convertible rupee was trading at 77.73/74 to the dollar in the early trade, versus Friday's close of 77.45. The 1-month non-deliverable forward was trading at 77.96/97 to the dollar.
Key stock market indices were trading up 0.7 per cent with all eyes on the listing of Life Insurance Corp, the country's biggest IPO, set for later in the session.
Traders will also watch for central bank intervention if the currency racks up sharper losses during the session.
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