The Indian rupee closed at 84.48 per US dollar, flat from its previous close as foreign portfolio investors continued to sell from local stocks and bonds. Likely intervention by the Reserve Bank of India capped excess depreciation in the rupee, traders said.
On a monthly basis, the rupee logged its worst performance in eight months, depreciating 0.5%, its steepest decline since March, LSEG data showed.
On Friday, FPIs sold Rs 4,383.5 crore from local stocks, BSE data showed. Foreign portfolio investors sold more than $1.7 billion of local stocks and bonds in November, in addition to the $11.5 billion outflow of the previous month, depository data showed.
