Rupee at record low ahead of RBI policy: How will the MPC decision impact Indian currency?

Key Highlights

• Rupee fell to 90.25 against the US dollar on Wednesday.
• Factors include foreign institutional investor outflows and dollar purchases by banks.
• The rupee has dropped 5.3% year-to-date, marking its sharpest annual decline since 2022.
• It is currently the worst-performing currency in Asia.
• The decline is exacerbated by uncertainty around the India-US trade deal.