Rupee drops past 84/USD on equity outflows, oil prices

The Indian rupee fell below 84 per U.S. dollar for the first time due to rising oil prices, foreign equity outflows, and reduced hopes of a major U.S. rate cut. Despite RBI interventions, the rupee’s near-term outlook worsened, with Brent crude prices up over 10% in October. The Indian rupee fell below 84 per U.S. dollar for the first time due to rising oil prices, foreign equity outflows, and reduced hopes of a major U.S. rate cut. Despite RBI interventions, the rupee’s near-term outlook worsened, with Brent crude prices up over 10% in October.  Economic Times