December 12, 2024 – The Indian rupee opened with a decline of 2 paise from its previous close, slipping to an all-time low of 84.85 to the US dollar, this morning. Its earlier record low was 84.86 in the previous session.

Yesterday, the rupee had close with a gain of 2 paise at 84.83 against the US dollar. Today, it opened at 84.85 against the US dollar at the interbank foreign exchange. The decline was attributed to pressure of foreign fund outflows, inflationary pressures, higher dollar index and rising crude oil prices.

Timely intervention by the Reserve Bank of India (RBI) has kept a cap on the losses, traders said, adding that State-run banks were spotted offering dollars.

The Indian market is awaiting domestic inflation data to be released today.