Rupee ends October near record low amid outflows

Quick Summary:

The rupee closed near an all-time low against the dollar, ending at 84.08, with RBI intervention keeping it steady amid US election anxiety.The rupee dipped 0.3% in October, trading between 83.79 and 84.1.

With potential Trump win, RBI prepped for sudden outflows, though importers and exporters may overlook rising global risks.

RBI sold dollars on almost all days in the last two weeks to ensure a measured depreciation of the rupee.

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Author / Journalist: Reuters

Category: EconomyBusiness

Markets: India

Topics: Foreign funds US dollar RBI Rupee Donald Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 04:22:48 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 513 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23355286

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