By laksh5382 
Rupee The US dollar remained stuck at its record low of 84.07 (provisional) against the US dollar on Thursday due to rising crude oil prices and persistent foreign fund outflows.
Analysts said the rupee’s recovery was being hampered by selling by foreign investors seeking better profits from the Chinese market, while higher US Treasury yields raised fears of a slow interest rate cut by the Federal Reserve.
Additionally, the uncertain geopolitical scenario ahead of the US presidential elections pushed investors towards safer investments, he said.
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At the interbank foreign exchange market, the domestic unit opened at 84.06 against the greenback and remained almost flat throughout the session. The unit eventually closed at the previous session’s closing level of 84.07 (provisional) against the dollar.
On Wednesday, the rupee had closed at 84.07 against the US dollar with a slight gain of 1 paise.
The local currency has been struggling to recover from its lowest level since October 11, when it closed at 84.10 against the dollar.
Anuj Chaudhary, Research Analyst, Sharekhan by BNP Paribas, said the rupee traded flat amid weak domestic markets and overnight rise in crude oil prices.
The rupee is expected to trade with a negative bias due to overall strength in the US dollar and FII outflows, he said.
“Traders can take cues from weekly unemployment claims, PMI and new home sales data from the US. USD-INR spot price is expected to trade between ₹83.90 to ₹84.30,” he said.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, declined marginally by 0.21 percent but remained higher at 104.05.
International benchmark Brent crude rose 2.03 percent to $76.43 per barrel in futures trade.
On the domestic equity market front, Sensex fell 16.82 points or 0.02 per cent to close at 80,065.16. Nifty also fell by 36.10 points or 0.15 percent to 24,399.40 points.
Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they sold shares worth ₹5,684.63 crore, according to exchange data.