Indian rupee slips to 86.457/USD

ET BureauLast Updated: Jan 24, 2025, 05:44:00 AM IST

Synopsis

The RBI allowed the currency to move both ways, with minimal intervention. There were also flows into the Indian bond market in anticipation of a rate cut on February 7, but dollar demand from foreign banks offset the gains," said a bond dealer at a private bank.

Mumbai: The Indian rupee weakened by 14 paisa on Thursday to close at 86.457 per US dollar, down from its previous close of 86.32, due to dollar demand from foreign banks and foreign portfolio outflows from Indian equities, traders said. "

The RBI allowed the currency to move both ways, with minimal intervention. There were also flows into the Indian bond market in anticipation of a rate cut on February 7, but dollar demand from foreign banks offset the gains," said a bond dealer at a private bank.

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