<p>Mumbai: The rupee depreciated 9 paise to close at 84.49 (provisional) against <a href="https://www.deccanherald.com/tags/us-dollar#:~:text=Rupee%20rises%2010%20paise%20to%20close%20at%2084.31%20against%20US%20dollar,-25%20November%202024">US dollar</a> on Thursday, weighed down by a negative trend in domestic equities and broad strength of the American currency in the overseas markets.</p>.<p>Forex traders said a mixed-to-weak tone in crude oil prices cushioned the downside.</p>.<p>At the interbank foreign exchange, the rupee opened at 84.45 and touched the lowest level of 84.50 against the greenback during intra-day. The unit ended the session at 84.49 (provisional) against the dollar, registering a fall of 9 paise over its previous close. The rupee hit its lowest-ever closing level of 84.50 on November 21.</p>.Rupee fell 7 paise to 84.47 against US dollar in early trade.<p>On Wednesday, the rupee depreciated by 11 paise to close at 84.40 against the US dollar.</p>.<p>"We expect the rupee to trade with a negative bias on strength in the US dollar and month-end dollar demand from importers. However, overall weakness in crude oil prices and fresh FII inflows may support the rupee at lower levels.</p>.<p>"US markets will remain closed today to observe the Thanksgiving Holiday. USD-INR spot price is expected to trade in a range of Rs 84.35 to Rs 84.70," said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan.</p>.<p>According to traders, the latest Federal Open Market Committee (FOMC) minutes revealed a significant shift in the Federal Reserve's outlook. The Fed is likely to put downward pressure on short-term interest rates, reducing the appeal of dollar-denominated assets and contributing to the decline in the Dollar Index.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.25 per cent at 106.34.</p>.<p>Brent crude, the global oil benchmark, rose 0.08 per cent to USD 72.89 per barrel in futures trade.</p>.<p>On the domestic equity market, the 30-share BSE Sensex slumped 1,190.34 points or 1.48 per cent to 79,043.74 points, while Nifty was down 360.75 points or 1.49 per cent to 23,914.15 points.</p>.<p>Foreign Institutional Investors (FIIs) infused Rs 7.78 crore in the capital markets on a net basis on Wednesday, according to exchange data.</p>
<p>Mumbai: The rupee depreciated 9 paise to close at 84.49 (provisional) against <a href="https://www.deccanherald.com/tags/us-dollar#:~:text=Rupee%20rises%2010%20paise%20to%20close%20at%2084.31%20against%20US%20dollar,-25%20November%202024">US dollar</a> on Thursday, weighed down by a negative trend in domestic equities and broad strength of the American currency in the overseas markets.</p>.<p>Forex traders said a mixed-to-weak tone in crude oil prices cushioned the downside.</p>.<p>At the interbank foreign exchange, the rupee opened at 84.45 and touched the lowest level of 84.50 against the greenback during intra-day. The unit ended the session at 84.49 (provisional) against the dollar, registering a fall of 9 paise over its previous close. The rupee hit its lowest-ever closing level of 84.50 on November 21.</p>.Rupee fell 7 paise to 84.47 against US dollar in early trade.<p>On Wednesday, the rupee depreciated by 11 paise to close at 84.40 against the US dollar.</p>.<p>"We expect the rupee to trade with a negative bias on strength in the US dollar and month-end dollar demand from importers. However, overall weakness in crude oil prices and fresh FII inflows may support the rupee at lower levels.</p>.<p>"US markets will remain closed today to observe the Thanksgiving Holiday. USD-INR spot price is expected to trade in a range of Rs 84.35 to Rs 84.70," said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan.</p>.<p>According to traders, the latest Federal Open Market Committee (FOMC) minutes revealed a significant shift in the Federal Reserve's outlook. The Fed is likely to put downward pressure on short-term interest rates, reducing the appeal of dollar-denominated assets and contributing to the decline in the Dollar Index.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.25 per cent at 106.34.</p>.<p>Brent crude, the global oil benchmark, rose 0.08 per cent to USD 72.89 per barrel in futures trade.</p>.<p>On the domestic equity market, the 30-share BSE Sensex slumped 1,190.34 points or 1.48 per cent to 79,043.74 points, while Nifty was down 360.75 points or 1.49 per cent to 23,914.15 points.</p>.<p>Foreign Institutional Investors (FIIs) infused Rs 7.78 crore in the capital markets on a net basis on Wednesday, according to exchange data.</p>