Rupee hits fresh all-time low, settles 4 paise lower at 83.87 against dollar

December 12, 2024 19:16

The rupee depreciated by 4 paise to settle at an all-time low of 84.87 (provisional) against the US dollar on Thursday, dragged down by negative domestic equity markets, outflow of foreign funds and rise in crude oil prices.

Forex traders said investors were awaiting cues from domestic inflation data to be released later in the day even as an elevated dollar index weighed on the Indian currency.

At the interbank foreign exchange, the rupee opened at 84.85 and touched the lowest-ever level of 84.88 against the greenback during intra-day trade.

The unit finally ended the session 4 paise down at a fresh all-time low closing level of 84.87 (provisional) against the dollar.

On Wednesday, the rupee settled with a gain of 2 paise at 84.83 against the US dollar.

Rupee's previous record low closing level was recorded on December 9, when it settled 20 paise lower at 84.86 against the dollar. -- PTI

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