Rupee drops 8 paise to close at 84.74 against U.S. dollar
The Hindu
Rupee weakens to 84.74 against dollar, impacted by foreign fund outflows and muted equities, awaiting RBI policy cues.
The rupee depreciated 8 paise to close at 84.74 (provisional) against the U.S. dollar on Monday (December 9, 2024), dragged down by fresh foreign fund outflows and a muted trend in domestic equities.
Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks.
At the interbank foreign exchange, the rupee opened at 84.70 and touched the lowest level of 84.73 against the greenback during intra-day trade. The unit ended the session at 84.74 (provisional) against the dollar, registering a fall of 8 paise over its previous close.
On Friday (December 6, 2024), the rupee appreciated by 5 paise to settle at 84.66 against the U.S. dollar.
On December 4, the rupee had slumped to its all-time low of 84.76 (provisional) against the U.S. dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.09% at 105.96.
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