Rupee slips 5 paise to all-time low of 84.37 against US dollar – Times of India

Rupee registered an all time low with a 5 paise drop against the US dollar during early trade on Friday, squeezed by foreign fund outflows and a flat performance in domestic equities.
Rupee opened at 84.32 against the greenback at the interbank foreign exchange and then fell to 84.37.
The US Fed Reserve’s decision to reduce its benchmark rate by 0.25 basis points has largely influenced the global financial landscape according to Forex traders. Additionally, with Donald Trump’s tax and trade policies impacting global markets, Rupee could see a volatile trajectory.
The Fed adopted a neutral-to-dovish tone in its accompanying statemebt, acknowledging balanced risks in inflation and employment.
On Thursday, the rupee fell 1 paise, ending at a new all-time low of 84.32 against the US dollar.
CR Forex Advisors Managing Director Amit Pabari said, “The spotlight will now be on the Reserve Bank of India (RBI) and how effectively it navigates this shifting currency landscape. In such a dynamic environment, only those who adapt swiftly will thrive in the market ahead.”
In contrast, the dollar index, which measures the strength of the US dollar against a basket of six major currencies, was up slightly by 0.02 per cent at 104.53.
Brent crude, the global oil benchmark, fell 0.65 per cent to $75.14 per barrel in futures trade.
Pabari said, “In this dynamic environment, volatility in the USD/INR pair is expected, with the RBI likely maintaining a range between 83.80 and 84.50. If the dollar’s momentum stalls amid future Fed rate cuts and weakening investor confidence, the rupee could gradually strengthen toward the lower end of this range.”