INR HITS FRESH LIFETIME LOWS AMID PERSISTENT FOREIGN FUND OUTFLOWS

Published on Nov 08, 2024 16:56

The Indian rupee declined for the third straight session down 5 paise to hit a new lifetime low of 84.37 (provisional) against the US dollar on Friday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities. Indian shares moved in a narrow range before finishing marginally lower on Friday after a busy week of central bank meetings and Donald Trump`s victory in the U.S. presidential election. The benchmark 30-share BSE Sensex ended the session down 55.47 points, or 0.07 percent, at 79,486.32, extending declines for a second straight session. The broader NSE Nifty index dropped 51.15 points, or 0.21 percent, to 24,148.20. At the interbank foreign exchange, the rupee opened at 84.32 against the US dollar. During the session, the local currency touched a high of 84.31 and a low of 84.38. It finally settled at 84.37 (provisional), a loss of 5 paise against its previous close.