Rupee touches all-time low on equity outflows, US elections in focus
stocks blunted the impact of a weaker dollar that helped lift the currency's regional peers ahead of the U.S. presidential election.
The rupee closed at 84.1150 against the U.S. dollar after touching its all-time low of 84.1225 earlier in the session.
Benchmark Indian equity indexes, the BSE Sensex and Nifty 50, fell more than 1% each on the day, their worst single-day performance in a month.
The benchmarks are down about 8% from their respective record highs hit in late September, hurt by the exodus of foreign investors amid a tepid earnings season.
Routine interventions by the Reserve Bank of India, such as on Monday, have helped the rupee avoid sharp declines despite pressure from chunky outflows from local stocks and elevated US bond yields.
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