MUMBAI (Reuters) - The Indian rupee closed nearly unchanged on Wednesday, as dollar sales by state-run banks helped the currency withstand pressure from equity outflows and persistent strength in the U.S. dollar. The rupee closed at 84.3775 against the ...

The rupee traded in a tight range and fell 4 paise to close at an all-time low of 84.43 (provisional) against the U.S. dollar on Thursday (November 14, 2024), weighed down by unabated foreign fund outflows and strong dollar demand from investors.

The Indian rupee touched its all-time low on Tuesday, pressured by the dollar's rise to a more than four-month peak and on likely outflows from local equities.

Forex traders said the downward pressure on the USD/INR pair is largely driven by persistent inflation and significant foreign outflows.

The Indian Rupee hit a historic low today, largely owing to the US Dollar's rally and expected outflows from domestic equities. The INR fell to an all-time low of 84.4125 against USD before settling at 84.3925, the same as its closing number in the previous session. This is the fifth straight session that the currency has hit record lows.

The Indian rupee was hovering near its all-time low on Wednesday, wedged between weakness in local equities and dollar sales by state-run banks. The rupee was at 84.4050 as of 10:45 a.m. IST, nearly unchanged from its close at 84.