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On Monday, the Indian rupee also fell by 4 paise to its new all-time low of Rs 84.11 (provisional) against the dollar amid weakness in the Indian stock market and continuous withdrawal of foreign funds. Foreign exchange traders said that the Indian rupee has reached its lowest level yet under the pressure of domestic markets. Let us tell you that today the Indian stock market registered a decline of more than 1 percent. Along with this, the trend of investors was also affected by the improvement in crude oil prices and the withdrawal of FIIs. However, the weakness in the dollar prevented a sharp decline.
Today the Indian rupee opened at 84.07
The Indian rupee opened at 84.07 against the dollar at the Interbank Foreign Currency Exchange market. During the day, it traded between a high of 84.06 and a low of 84.12 and finally closed at an all-time low of 84.11 per dollar (provisional), down by four paise. On Thursday, the rupee closed at 84.07 per dollar, up by 1 paisa. The foreign exchange market was closed on Friday on account of Diwali. Meanwhile, the dollar index, which gauges the strength of the dollar against a basket of six major currencies, was trading at 103.73, down 0.52 percent.
The dollar also declined.
Anuj Chaudhary, Research Analyst, Sharekhan by BNP Paribas, said that the dollar declined on Friday due to disappointing non-agricultural payroll report and ISM manufacturing PMI data from the US. The US added only 12,000 jobs in October 2024 against the forecast of 1,06,000 jobs, while the ISM manufacturing PMI came in at 46.5 in October, lower than the estimate of 47.6. Besides, global oil benchmark Brent crude rose 2.63 percent to $75.02 per barrel.
