Rupee falls 11 paise to revisit all-time low of 84.09 against U.S. dollar

The rupee fell 11 paise, revisiting its all-time debased of 84.09 (provisional) against the US dollar, tracking a anemic home equity marketplace and continued FII outflows. | Photo Credit: Reuters

The rupee connected Friday (October 11, 2024) fell 11 paise, revisiting its all-time debased of 84.09 (provisional) against the US dollar, tracking a anemic home equity marketplace and continued FII outflows.

The concern successful the Middle East continues to beryllium volatile and mightiness support lipid prices precocious and the rupee anemic successful the abbreviated term, according to forex traders.

At the interbank overseas exchange, the rupee opened astatine 83.97 against the dollar, 1 paisa higher than erstwhile day's close. It roseate to the day's precocious of 83.96 but tumbled to 84.10 earlier revisiting its all-time debased of 84.09 (provisional), 11 paise little than its erstwhile close.

The home portion had closed astatine 83.98 connected Thursday.

"After keeping it successful a scope beneath 83.99 since August 8, 2024, the Reserve Bank of India (RBI) yet allowed rupee to weaken past 84 arsenic FPIs who person emerged arsenic large sellers successful equities continued to bargain dollar to instrumentality their wealth retired of the country," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.

"We tin present expect the rupee to determination to 84.25 successful the abbreviated term. Importers volition proceed buying astatine each dips and exporters whitethorn present clasp their exports with a halt beneath 83.95. The Iran/Israel/Lebanon quality besides does not look bully and could support lipid beardown and the rupee weak," helium said.

Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was down 0.09 per cent to 102.89 points.

Brent crude, the planetary benchmark, was down 0.57% to $78.95 per tube successful futures trade.

In the home equity market, the 30-share BSE Sensex was down 230.05 points to adjacent astatine 81,381.36, portion Nifty declined 34.20 points to settee astatine 24,964.25.

Foreign Institutional Investors (FIIs) were nett sellers successful the superior markets connected Thursday, arsenic they offloaded shares worthy ₹4,926.61 crore, according to speech data.

Published - October 11, 2024 04:38 p.m. IST