Rupee Update: The rupee hit a record low against the US dollar in global markets. The Indian rupee weakened to a new low against the US dollar on Friday (October 11, 2024). Rising crude oil prices and the continued selling of stocks on Dalal Street by global funds put pressure on the Indian currency. According to Bloomberg, the Indian rupee fell to a record low of Rs 84.09 after opening at 83.96 against the US dollar.

The Indian rupee hit a record low against the US dollar. The decline was caused by rising oil prices and concerns about foreign investment outflows from Indian equity markets. The rupee's decline surpassed its previous low, which was reached on September 12.

On the oil front, crude prices fell slightly on Friday after a significant rise a day earlier, but they remained on track for a second consecutive week of gains.

International benchmark Brent crude fell 0.09 percent to $79.33 a barrel. On the Indian stock market, the 30-share BSE Sensex closed 259.05 points, or 0.32 percent, lower at 81,352.36. Meanwhile, the Nifty 50 index fell 67.40 points, or 0.27 percent, to close at 24,931.05.