Rupee slides to record lows on strong dollar demand, FII outflows

The Indian rupee weakened by 3 paise to close at an all-time low of 84.94 against the US dollar on December 18, as traders awaited cues from the US Federal Reserve on interest rate decisions. The rupee’s decline was fueled by strong dollar demand from importers and foreign banks, continued foreign fund outflows, and a lackluster trend in domestic equities, which dampened investor sentiment. Market participants are awaiting key data releases, including the US current account balance and housing data, as well as the outcome of the US Federal Open Market Committee (FOMC) meeting. The Indian rupee weakened by 3 paise to close at an all-time low of 84.94 against the US dollar on December 18, as traders awaited cues from the US Federal Reserve on interest rate decisions. The rupee’s decline was fueled by strong dollar demand from importers and foreign banks, continued foreign fund outflows, and a lackluster trend in domestic equities, which dampened investor sentiment. Market participants are awaiting key data releases, including the US current account balance and housing data, as well as the outcome of the US Federal Open Market Committee (FOMC) meeting. The Indian rupee weakened by 3 paise to close at an all-time low of 84.94 against the US dollar on December 18, as traders awaited cues from the US Federal Reserve on interest rate decisions. The rupee’s decline was fueled by strong dollar demand from importers and foreign banks, continued foreign fund outflows, and a lackluster trend in domestic equities, which dampened investor sentiment. Market participants are awaiting key data releases, including the US current account balance and housing data, as well as the outcome of the US Federal Open Market Committee (FOMC) meeting.