<p>Mumbai: The rupee opened on a flat note and rose 1 paisa to 84.07 against the US dollar in initial deals on Thursday, as strong dollar and persistent foreign fund outflows dented investor sentiments.</p>.<p>Forex traders said the rupee remained range bound as month-end demand kept the US dollar well-bid.</p>.<p>Moreover, a muted trend in domestic equities weighed on the local unit, while any intervention by the Reserve Bank of India (RBI) may support the local currency at lower levels, they said.</p>.<p>At the interbank foreign exchange, the rupee opened at 84.08 against the greenback, it rose 1 paisa to 84.07 in initial trade.</p>.The vaunted consumption story in the fastest-growing major economy is cracking.<p>On Wednesday, the rupee depreciated 3 paise to close at 84.08 against US dollar.</p>.<p>The local currency has been hovering around its all-time low level. Rupee touched its lowest closing level of 84.10 against the dollar on October 11.</p>.<p>The rupee has been trading below the 84-level for the majority of October, but the recent pressure is primarily due to domestic factors, notably month-end dollar demand from local oil companies, CR Forex Advisors MD Amit Pabari said.</p>.<p>However, upcoming IPO inflows may offer the rupee some relief as companies like Swiggy, Acme Solar Holdings, and Sagility Ltd prepare to raise funds next week.</p>.<p>"As a result, we anticipate the USDINR pair to remain within a narrow range of 83.80 to 84.20, with RBI interventions offering critical support to prevent any significant downside," Pabari added.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.14, higher by 0.14 per cent.</p>.<p>Brent crude, the global oil benchmark, was up 0.48 per cent to USD 72.90 per barrel in futures trade.</p>.<p>On the domestic equity market front, Sensex declined 163.76 points, or 0.20 per cent, to 79,778.42 points. The Nifty fell 32.00 points, or 0.13 per cent, to 24,308.85 points.</p>.<p>Foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 4,613.65 crore, according to exchange data.</p>.<p>On the macroeconomic front, the output of eight key infrastructure sectors expanded by 2 per cent in September, though the growth was slower than the 9.5 per cent registered in the same month last year, according to official data released on Wednesday.</p>.<p>The Centre's fiscal deficit at the end of the first half of financial year FY25 touched 29.4 per cent of the full-year target, government data showed on Wednesday. </p>
<p>Mumbai: The rupee opened on a flat note and rose 1 paisa to 84.07 against the US dollar in initial deals on Thursday, as strong dollar and persistent foreign fund outflows dented investor sentiments.</p>.<p>Forex traders said the rupee remained range bound as month-end demand kept the US dollar well-bid.</p>.<p>Moreover, a muted trend in domestic equities weighed on the local unit, while any intervention by the Reserve Bank of India (RBI) may support the local currency at lower levels, they said.</p>.<p>At the interbank foreign exchange, the rupee opened at 84.08 against the greenback, it rose 1 paisa to 84.07 in initial trade.</p>.The vaunted consumption story in the fastest-growing major economy is cracking.<p>On Wednesday, the rupee depreciated 3 paise to close at 84.08 against US dollar.</p>.<p>The local currency has been hovering around its all-time low level. Rupee touched its lowest closing level of 84.10 against the dollar on October 11.</p>.<p>The rupee has been trading below the 84-level for the majority of October, but the recent pressure is primarily due to domestic factors, notably month-end dollar demand from local oil companies, CR Forex Advisors MD Amit Pabari said.</p>.<p>However, upcoming IPO inflows may offer the rupee some relief as companies like Swiggy, Acme Solar Holdings, and Sagility Ltd prepare to raise funds next week.</p>.<p>"As a result, we anticipate the USDINR pair to remain within a narrow range of 83.80 to 84.20, with RBI interventions offering critical support to prevent any significant downside," Pabari added.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.14, higher by 0.14 per cent.</p>.<p>Brent crude, the global oil benchmark, was up 0.48 per cent to USD 72.90 per barrel in futures trade.</p>.<p>On the domestic equity market front, Sensex declined 163.76 points, or 0.20 per cent, to 79,778.42 points. The Nifty fell 32.00 points, or 0.13 per cent, to 24,308.85 points.</p>.<p>Foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 4,613.65 crore, according to exchange data.</p>.<p>On the macroeconomic front, the output of eight key infrastructure sectors expanded by 2 per cent in September, though the growth was slower than the 9.5 per cent registered in the same month last year, according to official data released on Wednesday.</p>.<p>The Centre's fiscal deficit at the end of the first half of financial year FY25 touched 29.4 per cent of the full-year target, government data showed on Wednesday. </p>