By laksh5382 
The rupee opened flat and gained 1 paise to 84.07 against the US dollar in early trade on Thursday, as a stronger dollar and persistent foreign fund outflows weighed on investor sentiments.
Forex traders said the rupee remained range-bound as the US dollar remained well bid on month-end demand.
Besides, soft trend in domestic equities weighed on the local unit, while any intervention by the Reserve Bank of India (RBI) could support the local currency at lower levels, he said.
At the interbank foreign exchange, the rupee opened at 84.08 against the greenback; In early trade it rose by one paise to reach 84.07.
On Wednesday, the rupee fell three paise and closed at 84.08 against the US dollar.
The local currency is hovering around its all-time low. On October 11, the rupee reached its lowest level of 84.10 against the dollar.
CR Forex Advisors MD Amit Pabari said the rupee has been trading below the 84 level for most of October, but the recent pressure is mainly due to domestic factors, especially from local oil companies against the dollar at the end of the month. Due to demand.
However, the rupee may get some relief from upcoming IPO inflows as companies like Swiggy, Acme Solar Holdings and Sagility Ltd prepare to raise funds next week.
“As a result, we expect the USDINR pair to remain within a narrow range of 83.80 to 84.20, with RBI intervention providing key support to prevent any significant downside,” Pabari said.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.14 percent higher at 104.14.
crude oil prices
Brent crude, the global oil benchmark, rose 0.48 percent to US$72.90 per barrel in futures trade.
On the domestic equity market front, Sensex fell 163.76 points or 0.20 per cent to 79,778.42. Nifty fell 32.00 points or 0.13 percent to 24,308.85 points.
Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they sold shares worth Rs 4,613.65 crore, according to exchange data.
On the macroeconomic front, output of eight core infrastructure sectors grew by 2 per cent in September, although the growth was slower than the 9.5 per cent recorded in the same month last year, according to official data released on Wednesday.
The Centre’s fiscal deficit at the end of the first half of fiscal year 2015 reached 29.4 percent of the full-year target, government data on Wednesday showed.