1 / 7Record Low Closing | The Indian rupee closed at 84.0775 against the U.S. dollar on Tuesday, marking its weakest closing level on record after hitting an all-time low of 84.0825 during the session.
2 / 7Regional Weakness | Asian currencies declined between 0.1% and 0.4%, contributing to pressure on the rupee amid a stronger dollar.
3 / 7Dollar Demand | Increased dollar demand from foreign banks linked to significant outflows from the domestic equity market further weighed on the rupee.
4 / 7Equity Market Outflows | Foreign investors have sold nearly $10 billion in local stocks this October, positioning the rupee for a record monthly outflow.
5 / 7RBI Intervention | The Reserve Bank of India’s interventions, including state-run banks offering dollars, helped curb sharper declines in the rupee.
6 / 7U.S. Economic Factors | Rising U.S. bond yields and expectations of a less dovish U.S. rate cut cycle have boosted the dollar, impacting global currency dynamics.
7 / 7Market Response | The benchmark BSE Sensex and Nifty 50 indexes fell over 1% each, reflecting investor concerns amid the rupee’s decline.
