The rupee fell 1 paisa to 82.41 against the US dollar in early trade on Tuesday, as the US currency strengthened and foreign money outflows continued. A negative trend in domestic stocks and investor risk aversion impacted the domestic currency.

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The local unit started at 82.35 versus the dollar on the interbank foreign exchange, then fell to 82.41, a loss of just 1 paisa from its previous closing.

In early trade, the local currency struck 82.33 against the dollar in a highly turbulent session.

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On Monday, the rupee fell 10 paise to a new lifetime low of 82.40 versus the US dollar.

Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six currencies, increased by 0.12% to 113.27.

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“RBI sold more than a billion dollars yesterday to protect against a fast depreciation in Rupee, allowing some respite to importers who could start panicking after a fall of 10.50 per cent in its value this year,” said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

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The range for the day is expected to be between 82.20 to 82.80 as Asian currencies fall from their recent highs, Bhansali noted.

The Sensex was trading 158.97 points, or 0.27%, down at 57,832.14, while the Nifty was down 50.35 points, or 0.29%, at 17,190.65.

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Foreign institutional investors (FIIs) have sold shares worth a net of Rs 2,139.02 crore, whereas domestic institutional investors (DIIs) purchased shares worth a net of Rs 2,137.46 crore on October 10, as per provisional data available on the NSE.

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Markets are waiting for more indications from US and India CPI data. The international oil benchmark, Brent crude futures, declined 0.28% to USD 95.92 a barrel.