The rupee continued its downward slide, falling 1 paisa to an all-time low of 84.40 against the US dollar in early trading on Wednesday, as ongoing foreign fund outflows and a subdued trend in domestic equities pressured the currency, according to PTI. Forex market analysts noted that the rupee’s movement has been highly volatile, with persistent global economic pressures further weakening it. This latest dip has brought the rupee closer to record low levels against the dollar, primarily impacted by the Dollar Index’s continued strength.

As per the interbank foreign exchange data, the rupee opened at 84.40 against the dollar, marking a marginal decrease of 1 paisa from the previous day’s record low close of 84.39. Forex experts, such as CR Forex Advisors Managing Director Amit Pabari, mentioned that while the rupee is displaying signs of stabilising near the current levels, it faces depreciation resistance around 84.50. According to Pabari, the Reserve Bank of India (RBI) has been intervening to limit the rupee's depreciation, reportedly selling dollars to cushion against sharper declines.