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RUPEE HITS RECORD LOW OF 84.37
The Business Guardian
|November 08, 2024
The domestic currency opened at 84.26 against the greenback, fluctuated between 84.26 and 84.38 before settling at 84.37
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The rupee declined by 6 paise to close at a fresh lifetime low of 84.37 (provisional) against the U.S. dollar on Thursday, November 7, 2024, as weak domestic equities and sustained foreign fund outflows dented market sentiment. Forex traders noted that investors were also cautious ahead of the outcome of the U.S. Fed meeting. Additionally, overnight gains in crude oil prices weighed on the local unit.
Sensex, Nifty fall over 1%, snap two-day rally ahead of U.S. Fed interest rate decision. "However, a correction in the dollar index against major currencies helped the rupee and restrained the slide," they added.
This story is from the November 08, 2024 edition of The Business Guardian.
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