INR HOVERS AROUND ALL-TIME LOWS

Published on Oct 30, 2024 16:41

The Indian rupee depreciated 4 paise to close around record lows of 84.09 (provisional) against US dollar on Wednesday, weighed down by weak domestic markets and month-end dollar demand from importers. Indian shares ended lower, with mixed earnings and caution ahead of next week`s U.S. presidential election and Federal Reserve rate decision keeping investors anxious. The benchmark S&P/BSE Sensex dropped 426.85 points, or 0.53 percent, to 79,942.18, snapping a two-day winning streak on the back of weak cues from other Asian and European markets. The broader NSE Nifty index closed at 24,340.85, down 126 points, or 0.51 percent, from its previous close. At the interbank foreign exchange, the rupee opened at 84.06 against the greenback. It traded in a tight range and ended the day at 84.09 (provisional), down 4 paise from its previous close.