<ul><li>The rupee closed at a record low of 85.26 against the US dollar on Wednesday, weakening by 6 paise from its previous close of 85.20 on Tuesday.</li><li>The rupee remains in a weakening mode due to dollar demand. Exporters may continue to wait with a stop-loss at 85.05, while importers should buy on all dips.</li><li>Outstanding forex positions have risen to $50 billion, an increase of $35 billion since October, as per the RBI’s latest bulletin. The real effective exchange rate rose to 108.14 in November, indicating an overvaluation of around 8.5%.</li><li>Market participants are closely watching for further cues from US jobless claims data expected later on Thursday. For now, the rupee is expected to trade within a range of 85.10 to 85.40.</li></ul>

Rupee Ends At Record Closing Low Of 85.26 Amid Sustained Weakness

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