New Delhi: The rupee closed at a historic low of 83.39 against the dollar on Thursday, following a drop of three paise from its previous close. The rupee has declined 10-paise over the course of a month.

According to the Times of India, forex dealers said the drop was due to heightened demand from importers. The report said that, unlike the rupee, other Asian currencies – the Singapore dollar, Taiwan dollar, Thai baht, Chinese yuan, and Malaysian ringgit – have strengthened against the dollar as yields in US treasuries eased.

The stock market, meanwhile, extended its rally for the third consecutive day and the Sensex reached an intraday high of 67,069. The Times of India said this "represents the apparent decoupling of the rupee movement and the stock indices".

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