The Indian rupee held steady on Thursday, closing on a flat note with a slight rise of 1 paisa at 84.07 (provisional) against the US dollar. The currency’s performance was impacted by ongoing foreign fund outflows and demand for the dollar from importers at the month’s end. Forex traders noted that intervention by the Reserve Bank of India (RBI) may have supported the rupee, helping it hold its ground at lower levels.

At the interbank foreign exchange market, the rupee opened at 84.08 against the dollar and remained within a tight trading range throughout the day, eventually closing at 84.07 (provisional), which marked an increase of 1 paisa from its previous close. On Wednesday, the rupee had depreciated by 3 paise, finishing at 84.08 against the US dollar. It has been hovering near record lows, reaching its lowest closing point of 84.10 earlier on October 11.