The Indian Rupee opened on a flat note in early trade on Monday, moving within a narrow range and gaining just 2 paise to reach 84.58 against the US dollar, slightly above its all-time low. The currency faced pressure due to disappointing macroeconomic data, a negative trend in domestic equities, and global factors, including concerns sparked by remarks from President-elect Donald Trump.

Forex traders reported that Asian currencies, including the Chinese Yuan (CNH), South Korean Won (KRW), and Indonesian Rupiah (IDR), were also under pressure after Trump made comments about a 100 per cent tariff on BRICS currencies. Additionally, the US dollar maintained strength, and persistent foreign portfolio outflows continued to dampen investor sentiment.