INR FALLS TO FRESH LIFETIME LOWS

Published on Nov 14, 2024 17:27

The Indian rupee traded in a tight range and fell 4 paise to close at an all-time low of 84.43 (provisional) against the US dollar on Thursday, weighed down by unabated foreign fund outflows and strong dollar demand from investors. Indian shares moved in a narrow range before finishing marginally lower on Thursday ahead of a public holiday for markets on Friday for Guru Nanak Jayanti. The benchmark 30-share BSE Sensex ended the session down 110.64 points, or 0.14 percent, at 77,580.31, extending declines for a sixth day running and marking a weekly decline of 2.4 percent. The broader NSE Nifty index settled down 26.35 points, or 0.11 percent, at 23,532.70, ending the week down by 2.6 percent as longer-dated U.S. bond yields rose alongside the dollar amid expectations for deeper deficit spending during Trump`s second presidential term. At the interbank foreign exchange, the rupee opened at 84.40 against the US dollar. During the session, the local currency touched a high of 84.39 and a low of 84.43. It finally settled at its fresh all-time low of 84.43 (provisional) against the greenback, 4 paise lower than its previous close.