Rupee Plunges to Record Low, Breaching 84 Against the Dollar
Indian Rupee hits a new all-time low, fueled by FII outflows, rising crude oil prices, and global uncertainty.
Yash Saini 
Mumbai: The Indian Rupee continued its downward spiral, reaching a historic low of 84.11 against the US Dollar on Monday. This decline is primarily attributed to persistent Foreign Institutional Investor (FII) outflows, soaring crude oil prices, and escalating global geopolitical tensions. The weakening rupee poses significant challenges to India's economy, particularly in terms of import costs and inflation.
The Reserve Bank of India (RBI) has been actively intervening in the foreign exchange market to stabilize the rupee. However, the central bank's efforts have been insufficient to stem the currency's decline. Analysts suggest that further rate hikes by the RBI could help strengthen the rupee, but this could also dampen economic growth.
