By laksh5382 
The rupee on Wednesday declined 4 paise to close at 84.09 (provisional) against the US dollar due to weak domestic markets and month-end dollar demand from importers.
Forex traders said suspected intervention by the Reserve Bank of India (RBI) supported the local currency at lower levels.
At the interbank foreign exchange, the rupee opened at 84.06 against the greenback. It traded in a tight range and ended the day at 84.09 (provisional), 4 paise lower than its previous close. On Tuesday, the rupee closed at 84.05 against the US dollar with a rise of 2 paise.
The local currency is hovering around its all-time low. The rupee reached its lowest closing level of 84.10 against the dollar on October 11.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.15 percent lower at 104.16. Forex traders said the dollar declined due to disappointing employment data from the US.
Global oil benchmark Brent crude rose 0.53 percent to $71.50 a barrel in futures trade.
“We expect the rupee to trade with a mixed to negative bias due to weak domestic markets and continued FII outflows. Month-end dollar demand from importers may put further pressure on the rupee.
“However, weakness in the US dollar amid disappointing employment markets may provide support to the rupee at lower levels,” said Anuj Choudhary, research analyst at Sharekhan. Traders are also looking for Q3 2024 GDP data and non-farm payrolls report from the US this week. Can keep an eye on.” By BNP Paribas.
On the domestic equity market front, Sensex fell 426.85 points or 0.53 per cent to 79,942.18. Nifty fell 126.00 points or 0.51 percent to 24,340.85 points.
Foreign institutional investors (FIIs) were net sellers in the capital market on Tuesday as they sold shares worth ₹548.69 crore, according to exchange data.