<p>The rupee dropped 1 paisa to hit a new lifetime low of 84.92 against the US dollar in early trade on Tuesday, weighed down by foreign fund outflows and a muted trend in domestic equities.</p><p>Forex traders said the rupee is likely to remain under pressure due to dollar demand from importers and foreign banks.</p><p>At the interbank foreign exchange, the rupee opened at 84.89 against the greenback, then fell further to 84.92 against the American currency, registering a fall of 1 paisa over its previous close.</p><p>On Monday, the rupee depreciated by 11 paise to close at an all-time low level of 84.91 against the US dollar.</p>.Congo files criminal complaints against Apple in Europe over conflict minerals.<p>"The Indian rupee is expected to open at its lowest after a record number in respect of imports and a record trade deficit for November 24 mainly on account of increase in gold buying, took rupee lower in the NDF (Non-Deliverable Forward) markets," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>The opening will depend on where <a href="https://www.deccanherald.com/tags/rbi">RBI</a> supports rupee but the trend indicated weakness. The range for the day is 84.75/00 with a close watch on RBI, Bhansali added.</p><p>On the domestic macroeconomic front, India's exports in November contracted by 4.85 per cent year-on-year to $32.11 billion, while the trade deficit widened to an all-time high of $37.84 billion due to a record surge in gold imports.</p><p>The country's gold imports in November reached a record high of USD 14.86 billion, registering a four-fold increase, mainly on account of festival and wedding demands, according to commerce ministry data.</p><p>Gold imports stood at $3.44 billion in November 2023.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.02 per cent at 106.83.</p><p>Brent crude, the global oil benchmark, fell 0.12 per cent to $73.82 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share <a href="https://www.deccanherald.com/tags/bse-sensex">BSE Sensex</a> was trading 326.76 points or 0.40 per cent down at 81,421.81 points in morning trade, while Nifty was down 107.50 points or 0.44 per cent to 24,560.75 points.</p><p>Foreign Institutional Investors (FIIs) offloaded Rs 278.70 crore in the capital markets on net basis on Monday, according to exchange data.</p>
<p>The rupee dropped 1 paisa to hit a new lifetime low of 84.92 against the US dollar in early trade on Tuesday, weighed down by foreign fund outflows and a muted trend in domestic equities.</p><p>Forex traders said the rupee is likely to remain under pressure due to dollar demand from importers and foreign banks.</p><p>At the interbank foreign exchange, the rupee opened at 84.89 against the greenback, then fell further to 84.92 against the American currency, registering a fall of 1 paisa over its previous close.</p><p>On Monday, the rupee depreciated by 11 paise to close at an all-time low level of 84.91 against the US dollar.</p>.Congo files criminal complaints against Apple in Europe over conflict minerals.<p>"The Indian rupee is expected to open at its lowest after a record number in respect of imports and a record trade deficit for November 24 mainly on account of increase in gold buying, took rupee lower in the NDF (Non-Deliverable Forward) markets," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>The opening will depend on where <a href="https://www.deccanherald.com/tags/rbi">RBI</a> supports rupee but the trend indicated weakness. The range for the day is 84.75/00 with a close watch on RBI, Bhansali added.</p><p>On the domestic macroeconomic front, India's exports in November contracted by 4.85 per cent year-on-year to $32.11 billion, while the trade deficit widened to an all-time high of $37.84 billion due to a record surge in gold imports.</p><p>The country's gold imports in November reached a record high of USD 14.86 billion, registering a four-fold increase, mainly on account of festival and wedding demands, according to commerce ministry data.</p><p>Gold imports stood at $3.44 billion in November 2023.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.02 per cent at 106.83.</p><p>Brent crude, the global oil benchmark, fell 0.12 per cent to $73.82 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share <a href="https://www.deccanherald.com/tags/bse-sensex">BSE Sensex</a> was trading 326.76 points or 0.40 per cent down at 81,421.81 points in morning trade, while Nifty was down 107.50 points or 0.44 per cent to 24,560.75 points.</p><p>Foreign Institutional Investors (FIIs) offloaded Rs 278.70 crore in the capital markets on net basis on Monday, according to exchange data.</p>