Overview

• The Indian rupee ended at a record closing low on Friday, weighed down by weakness in its Asian peers and dollar demand from foreign banks.
• The rupee hovered in a narrow range of 83.3450 to 83.38 during the day's session and fell 0.1% this week.
• Foreign banks were seen bidding for U.S. dollars on Friday, likely on behalf of custodial clients.
• Equity inflows worth about $1.5 billion related to the rebalancing of MSCI index, effective from Nov. 30, may offer some support the rupee in the coming week.
• Investors await the release of October inflation data in the U.S. on Thursday.