Rupee slips to record low

MUMBAI, Oct 14 (Reuters): The Indian rupee slipped to an all-time low on Monday, weighed down by a fall in most Asian peers and strong dollar demand from foreign banks.

The rupee, which weakened below the key support level of 84 for the first time on Friday, ended unchanged at 84.06 on Monday after dipping to a record low of 84.0750 earlier in the session.

Foreign banks' dollar bids, likely on behalf of custodian clients, weighed on the currency alongside weakness in most regional peers, traders said.

Overseas investors have been sellers of Indian stocks over the last 10 trading sessions, selling nearly $8 billion.

Benchmark Indian equity indices, the BSE Sensex and Nifty 50, rose on the day but have declined about 3 per cent this month.