The rupee recovered slightly from its record low and settled with a gain of 4 paise at 85.87 (provisional) against the U.S. dollar on Thursday (January 9, 2025) amid firm American currency and elevated level of crude oil prices.

The rupee depreciated 9 paise to hit its record low of 85.83 against the US dollar in early trade on Wednesday as strengthening American currency and higher crude oil prices continued to play spoilsports even as the government lowered the country's economic growth projection.

The rupee extended its slide for the second straight session and declined 13 paise to hit a fresh record low of 85.87 (provisional) against the US dollar on Wednesday amid higher crude oil prices and stronger American currency.

At the interbank foreign exchange, the rupee opened at 85.77, slipped to 85.80 before trading again at 85.75 against the greenback in initial deals.

Erasing gains the Rupee on Wednesday slipped 14 paise to close at 85.85 on rising demand for US Dollar by bankers and exporters, dealers at the Forex Market said.

Rupee recovers slightly against dollar amid equity market support, while FII outflows and strong USD remain concerns.

At the interbank foreign exchange, the rupee opened at 85.82 and touched the lowest-ever level of 85.89 against the greenback during intra-day. The unit settled at 85.87 (provisional) against the dollar,

Mumbai: The rupee depreciated 9 paise to hit its record low of 85.83 against the US dollar in early trade on Wednesday as strengthening American currency and higher crude oil prices continued to play spoilsports even as the government lowered the country’s economic growth projection.

The Indian rupee weakened to its lifetime low on Thursday as the dollar strengthened on the back of expectations of slower-than-anticipated rate cuts by the Federal Reserve as well as uncertainty about the incoming U.