By laksh5382 
Rupee It fell 2 paise to an all-time low of 84.40 against the US dollar in early trade on Tuesday as sustained foreign fund outflows and strengthening of the American currency in the overseas market weighed on investor sentiments.
Forex traders said the rupee is expected to trade between 83.80 and 84.50 in the medium term and the Reserve Bank of India may limit any significant downside due to its strong forex reserves.
At the interbank foreign exchange, the rupee opened at 84.39 against the greenback, then fell to an all-time low of 84.40, showing a decline of 2 paise over its previous close.
The rupee fell 1 paise to a new low of 84.38 against the US dollar on Monday, registering losses for the fourth consecutive session.
,Reserve Bank of India Plays an important role in stabilizing the rupee, curbing its devaluation. Despite a 6.30 per cent decline in the emerging market currency index since October 2, the rupee fell only 0.69 per cent, reflecting the RBI’s strong defense of the currency, said Amit Pabari, MD, CR Forex Advisors.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.09 percent higher at 105.63.
Global oil benchmark Brent crude fell 0.25 percent to $71.65 a barrel in futures trade.
On the domestic equity market front, Sensex It was trading at 79,573.50, up 77.35 points or 0.02 percent. nifty It rose 19.90 points or 0.08 percent to 24,161.20.
Foreign institutional investors (FIIs) were net sellers in the capital market on Monday as they sold shares worth ₹2,306.88 crore, according to exchange data.
“Foreign investment in Indian equities has declined sharply, with outflows of over $2 billion in November following an outflow of $11 billion in October. This trend reflects overvalued Indian stocks and weak Q2 earnings,” Pabari said. Due to which the interest of foreign capital has reduced.
Meanwhile, an SBI research report on Monday said the rupee may weaken by 8-10 per cent against the US dollar during the Trump 2.0 regime.
The report titled US Presidential Elections 2024: How Trump 2.0 impacts India and the global economy, emphasizes that the rupee may decline for a short period against the US dollar, after which it may appreciate. .