Rupee Hits Record Lows But RBI Intervention Provides Some Support

Rupee fell to record lows against the US dollar due to rising US yields and risk aversion.
RBI likely sold dollars to curb volatility and prevent further sharp declines in the rupee.
High US interest rates may keep pressuring the rupee despite pullbacks in the US dollar.
Importers and exporters have become more active in hedging due to rupee weakness.
RBI purchased $4.5 billion dollars net across spot and forward markets in June to stem rupee losses.