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Rupee Slips to Record Low, Pressured by Slide in Local Equities

MUMBAI, Nov. 4 — The Indian rupee fell to an all-time low on Monday, reaching 84.11 against the U.S. dollar, surpassing its previous record low of 84.0950 set last week. This decline was largely driven by ongoing outflows from local equities, even as many Asian currencies gained from a weaker U.S. dollar.

The benchmark BSE Sensex and Nifty 50 equity indexes both experienced a drop of approximately 1.5% during the trading session. The selling pressure was attributed to likely divestments by foreign investors and a cautious market sentiment ahead of the upcoming U.S. presidential election.

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