The Rupee closed 4 paise weaker on Monday at 88.76 as it was weighed down by foreign portfolio outflows from the equity markets amid risk-off sentiment, and demand for the greenback from corporates.

This closing was just off the record closing low of 88.7750 per US Dollar, hit on September 24 th .

The Rupee opened a tad stronger at 88.69 against previous close of 88.72. However, it could not sustain the gains due to demand for Dollars from custodial banks and India Inc. Intraday, it hit a low of 88.81.

DMI Finance, in a report, said in the near term, the Rupee’s trajectory is expected to remain influenced mainly by US trade policy actions and the scale of the central bank’s interventions.

CareEdge Ratings, in a report, said: “We expect the Rupee to remain under pressure in the near t

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