Rupee falls 4 paise to close at record low of 85.79 against US dollar
Mumbai, Jan 3 (PTI) The rupee depreciated 4 paise to close at a record low of 85.79 (provisional) against the US dollar on Friday, as strong dollar demand from importers and a muted trend in domestic equities weighed on investors’ sentiments. Forex traders said the dollar gained against most currencies during 2024 and continued to remain on a strong footing this year. The US dollar index breached the crucial 109-mark. The uptrend in the American currency was underpinned by expectations of fewer rate cuts and a view that the US economy will continue to outperform its peers globally. At the