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2025-11-03 16:07:12
[Indian Rupee Continues to Fall Under Pressure, Approaching Historic Lows] ⑴ The Indian rupee fell for the third consecutive trading day on Monday, dropping to 88.7988 against the US dollar, once again approaching its historic low. ⑵ As the worst-performing Asian currency this year, the recent intervention measures by the Reserve Bank of India (RBI) have had limited supporting effect. ⑶ Uncertainty surrounding tariffs on Indian exports to the US, coupled with the unclear path of the Federal Reserve's interest rate cuts, continues to put pressure on the rupee. ⑷ Last month, the RBI unexpectedly sold a large amount of US dollars to quell market volatility, but the rupee failed to hold onto its previous gains. ⑸ According to traders, monetary authorities have been continuously selling small amounts of US dollars in recent days, attempting to prevent the rupee from falling below the historic low of 88.8050 rupees to the US dollar. ⑹ Compared to the large-scale intervention last month, the recent US dollar sell-off has been relatively limited. ⑺ A senior economist at HDFC Bank stated that the trading logic for shorting the US dollar has essentially ended.
