Wed Nov 27 11:31:51 UTC 2024: ## Rupee Slides 15 Paise Against Dollar Amidst Trade Uncertainty

**Mumbai, November 27, 2024** – The Indian rupee weakened significantly on Wednesday, closing at 84.44 against the US dollar, a 15-paise decline. This drop was attributed to concerns surrounding US President-elect Donald Trump’s potential trade policies and a rise in crude oil prices.

While the domestic equity markets performed strongly, with the BSE Sensex climbing 230.02 points to 80,234.08 and the Nifty gaining 80.40 points to reach 24,274.90, and Foreign Institutional Investors (FIIs) showed net buying of ₹1,157.70 crore on Tuesday, these positive factors were not enough to completely offset the negative impacts. A weakening dollar against other major currencies also offered some support.

The rupee opened at 84.38, already down 9 paise from the previous close, and fell to an intraday low of 84.48 before recovering slightly. Analysts cited President-elect Trump’s indication of aggressive trade policies as a key contributor to the volatility. Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, noted that the Reserve Bank of India (RBI) intervened by selling dollars, but month-end demand ultimately pushed the rupee lower. He predicts the rupee will trade between 84.30 and 84.55 on Thursday.

The dollar index fell 0.46% to 106.51, while Brent crude rose 0.55% to $73.21 per barrel.

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