By laksh5382 
Rupee It recovered from its all-time low and rose 5 paise to 84.05 against the US dollar in morning trade on Monday. crude oil Risk-off sentiment gripped the market due to rising prices and a strong dollar.
Forex traders said there were significant foreign fund outflows and crude oil prices rose nearly 10 percent due to Hurricane Milton’s impact on US production as well as tensions in the Middle East between Israel and Iran.
However, of the reserve bank of india The intervention, backed by record-high reserves, has supported the local unit at the bottom.
At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and traded in a tight range. It reached 84.05 in early trade, showing an increase of 5 paise over its previous close.
On Friday, the rupee fell 12 paise to a record low of 84.10 against the US dollar.
“Indian equities saw substantial outflows, with FIIs selling nearly $6.4 billion in October as risk-off sentiment gripped the market,” said Amit Pabari, MD, CR Forex Advisors. Crude oil prices under stress It has increased by about 10 percent.” ,
Pabari further said that Reserve Bank of India intervention, supported by record-high reserves, and strong resistance at 84.10 levels could trigger a pullback below 84 as FII outflows start to subside.
“Thus in the short term we expect the USDINR pair to trade in the range of 83.90 to 84.10,” he said. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.13 percent higher at 103.02.
Global oil benchmark Brent crude fell 1.21 percent to $78.08 per barrel.
On the domestic equity market front, Sensex It rose 461.97 points or 0.57 percent to 81,843.33. nifty It rose 140.40 points or 0.56 percent to 25,104.65.
Foreign Institutional Investor (FII) There were net sellers in the capital market on Friday as they sold shares worth Rs 4,162.66 crore, according to exchange data.
Meanwhile, the RBI on Friday said India’s foreign exchange reserves declined by $3.709 billion to $701.176 billion in the week ended October 4.
In the previous reporting week, reserves had risen by $12.588 billion to an all-time high of $704.885 billion.