Rupee ends at record closing low, likely RBI intervention helps cap losses

The Indian Rupee ended at a record closing low against the US Dollar, driven by global economic uncertainties and domestic factors. The currency fell to ₹84.75, exacerbated by a strong US Dollar and concerns over rising inflation and trade deficits. The Reserve Bank of India (RBI) intervened to stabilize the currency, which helped cap further losses. The RBI's actions included selling dollars from its reserves to provide temporary relief. Analysts anticipate continued volatility due to geopolitical tensions and global economic shifts. The RBI's intervention underscores its commitment to maintaining currency stability amidst challenging economic conditions.