The Indian rupee fell below 84 per dollar for the first time on Friday, pressured by concerns about the recent spike in oil prices and the exodus of foreign money from the equity market. The rupee closed at 84.

The Indian rupee (INR) has witnessed a sharp fall, breaching the 84 mark against the US dollar for the first time ever today. The fall was prompted by a spike in oil prices and a foreign fund outflow from the equity market. The INR fell to a low of 84.0525 per US dollar, breaching its previous all-time low of 83.9850 on September 12.

Local currency had recovered to near 83.50 little over two weeks ago but its near-term outlook has worsened as Middle East conflict has pushed up oil prices, and foreigners have been pulling out money

The Indian rupee fell below 84-per-dollar for the first time on Friday, pressured by concerns over the recent jump in oil prices and the exodus of foreign money from the domestic equity market. The rupee dropped to 84.

In comparison, the dollar index, which measures the dollar's strength against six other major currencies, was down 0.11 per cent at 102.87 points.