Rupee Hits Record Low Amid Global Currency Pressures

The Indian rupee falls to an all-time low against the US dollar, influenced by foreign fund outflows and US election results.

The rupee dropped to a record low of 84.38 against the US dollar, with further pressure expected due to persistent foreign fund outflows.
Donald Trump's US presidential election victory has intensified fears of higher tariffs, impacting Asian currencies, including the rupee.
The Reserve Bank of India is prepared to allow the rupee to weaken further in line with the Chinese yuan to maintain trade competitiveness.
India's foreign exchange reserves have declined to a two-month low of $682.13 billion as of November 1, partly due to RBI's interventions.
Analysts predict the rupee could breach 85 to the dollar within the next year, reflecting ongoing volatility in global currency markets.