MUMBAI, Nov 11 Reuters The Indian rupee slipped to an alltime low on Monday, pressured by weakness in regional currencies and sustained outflows from local equities but central bank intervention helped avoid sharp losses, traders said.

The currency ended at 84.3925, eclipsing its previous record low of 84.3875 hit last week. The currency was down 0.02 on the day.

Dollar demand from oil companies and foreign banks, likely on behalf of custodial clients, kept the rupee under pressure, a salesperson at a foreign bank said.

Overseas investors have pulled out a net of about 2.5 billion from Indian stocks over November so far, adding to the 11 billion of outflows in October.

Benchmark Indian equity indices, the BSE Sensex and Nifty 50, closed nearly flat on the day.

Asian currencies were down between 0.1 to 0.6 while the dollar index was up 0.3 at 105.3, hovering close to a fourmonth high hit last week following Donald Trump39;s victory in the U.S. election.

The offshore Chinese yuan, a closelywatched peer of the rupee, was down 0.2 at 7.21. China unveiled a stimulus package on Friday which disappointed investors who had anticipated a greater fiscal push.

Analysts expect Trump39;s policies to put upward pressure on U.S. inflation and bond yields, while limiting the Federal Reserve39;s scope to ease policy.

We see the dollar strengthening into yearend, ING Bank said in a note. The bank reckons the dollar index may consolidate in the 104.5105.5 range before breaking…