Rupee hits record low of 85.76 against dollar despite RBI intervention

The Indian rupee has hit a record low of INR 85.76 against the US dollar despite interventions by the Reserve Bank of India (RBI). The currency’s depreciation is largely attributed to global economic factors, including higher inflation rates and international economic policies. Despite RBI's efforts to stabilize the rupee, the market is reacting to global economic pressures, such as rising oil prices and slower growth in key economies. The falling rupee adds to concerns over inflation and import costs, impacting India's trade balance and overall economic health.