The Indian rupee depreciated by 4 paise to close at 84.09 (provisional) against the US dollar on Wednesday, impacted by weak domestic markets and heightened demand for the dollar from importers at the month-end. According to PTI, the Reserve Bank of India (RBI) was suspected of intervening to support the local currency at lower levels, as per forex traders.

The rupee opened at 84.06 against the greenback at the interbank foreign exchange and remained within a narrow range through the session. It concluded at 84.09 (provisional), marking a 4 paise decline from the previous close. On Tuesday, the rupee had gained by 2 paise, settling at 84.05 against the US dollar. The rupee has been fluctuating near its record low, having hit a historical closing low of 84.10 on October 11, according to PTI.