Oil prices have remained elevated amid concerns of a wider conflict in the Middle East and are up over 10% in October so far

The Indian Rupee hit a historic low against the US dollar on October 11, driven by surging oil prices and significant foreign outflows from Indian equity markets. The Rupee sank to a lifetime low of 84.

The Indian rupee is likely to remain anchored near a lifetime low on Friday, hit by concerns over the deluge of foreign money being pulled out of domestic equities and a jump in oil prices due to the Middle East conflict.

The rupee has slipped below the 84 per dollar mark for the first time, closing at 84.06 on Friday, as concerns over escalating oil prices and significant foreign equity outflows weigh on the currency.

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.

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.

Rupee dropped to 83.9900 to the dollar, down from 83.9675 in the previous session. Rupee surpassed the previous lifetime low of 83.9850 hit on September 12.