Rupee Hits Record Low Of 84.25 Against US Dollar As Trump On Brink Of Landslide Win

Indian rupee today touched record low for third day in a row as US dollar turned stronger amid reports of Donald Trump on brink of landslide victory while Democratic presidential nominee Kamala Harris is reportedly trailing with 214 votes. Rupee on Wednesday declined 14-paise to all-time low of 84.23 against US Dollar in early trade. Rupee also surpassed its earlier all-time low of 84.122 that it hit earlier this week. Earlier, Indian Rupee fell 6 paise at market open on November 6, 2024.

Meanwhile, BSE Sensex gained 530 points to 80,007 and Nifty 50 rose 164 points to 24, 377 today. Nifty Bank gained 159 points to 52,366 and Nifty Midcap rose 657 points to 56,772 in morning trade today.

Earlier on November 5, 2024, rupee recovered from its all-time low to settle 2 paise higher at 84.09 against the US dollar, supported by a recovery in the domestic markets and suspected intervention by the Reserve Bank of India, according to a PTI report.

Forex traders said investors were cautious ahead of the US presidential election. Markets are bracing for potential volatility over the coming days, especially with the Federal Reserve's monetary policy announcement also scheduled this week, added the PTI report.