MUMBAI, Oct 28 Reuters The Indian rupee ended flat on Monday, after briefly dipping to a lifetime low, pressured by the U.S. 10year yield climbing to its highest since late July.

The rupee dropped to a record low of 84.0850 to the dollar in afternoon trade, slipping past the previous low of 84.0825 it had hit last week. The currency settled at 84.0775 compared to its close of 84.0800 on Friday.

The dollar index inched past 104.50 and most Asian currencies fell.

The U.S. dollar and bond yields have been pushing higher on the back of rising odds of Donald Trump winning the presidential election and as data indicates the U.S. economy remains healthy.

On Monday, the Reserve Bank of India RBI likely sold dollars via public sector banks to support the rupee, like it has done multiple times over recent days, traders said.

In the runup to and immediate aftermath of U.S. elections, RBI39;s aim will be to curb volatility in rupee, A Prasanna, head of research at ICICI Securities Primary Dealership said in an interview to Trading India.

The RBI would prefer the rupee to mimic the broader trend among emerging market currencies but with low volumes, said Prasanna, who expects a depreciation bias to persist due to flaky capital flows.

Foreign investors have withdrawn 10 billion from India equity and debt markets in October, in the heaviest month of selling this year.

RBI39;s constant intervention has stamped out volatility in the rupee, which last week traded in the narrowest…