The Indian rupee ended the day at 84.74 against the US dollar, depreciating by 8 paise. This depreciation was influenced by foreign fund outflows and a weak performance in domestic equities.
Forex traders observed that the rupee is facing pressure due to increased demand for dollars from importers and foreign banks. The rupee started the day at 84.70 and reached a low of 84.73 against the dollar. This decline follows a slight appreciation of 5 paise on Friday, when the rupee closed at 84.66.
The volatility in the currency market reflects broader economic trends and investor sentiment.