Mumbai: The Indian rupee touched new all-time low against the US dollar in early trade on Thursday, weighed down by unabated foreign fund outflows and strong dollar demand from investors. Forex traders said the downward pressure on the USD/INR pair is largely driven by persistent inflation and significant foreign outflows.
At the interbank foreign exchange, the rupee opened at 84.40 against the US dollar, registering a fall of 1 paise. On Wednesday, the rupee moved in a narrow range and settled flat at 84.39 against the US dollar.
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Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Wednesday, as they offloaded shares worth Rs 2,502.58 crore.
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