25-Oct-2024

Indian Rupee: Stays flat at record low levels

The Indian rupee continues to stay around record low levels in opening trades on Friday. The counter opened at Rs 84.07 per dollar and is steadying flat currently. Yesterday too, rupee stayed stuck at its near-record low of 84.07 against the US dollar as surging crude oil prices and persistent foreign fund outflow weighed on the local unit. Selling rush by foreign investors in pursuit of better gains from the Chinese market has been preventing the rupee's recovery, as per media reports. Also, uncertain geopolitical scenario ahead of the US presidential election steered investors towards safe-haven bets. Meanwhile, local shares fluctuated in a narrow range on Thursday before finishing marginally lower for the day. The benchmark S&P/BSE Sensex ended the session down 16.82 points, or 0.02 percent, at 80,065.16 while the broader NSE Nifty index closed at 24,399.40, down 36.10 points, or 0.15 percent, from its previous close.

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