The Indian Rupee is once again approaching record lows, and the recent interventions by the Reserve Bank of India have had limited effect.

Jin10 data, November 3 - The Indian rupee is once again approaching a new low, and the support from the Central Bank's recent interventions has been limited for this year's worst-performing Asian currency. The uncertainty regarding tariffs on Indian exports to the US and the Fed's undecided rate cuts are putting pressure on the rupee, which has fallen for the third consecutive trading day against the dollar, dropping to an exchange rate of 88.7988. After the Indian Central Bank unexpectedly dumped a large amount of dollars last month to calm market speculation, the rupee failed to maintain its upward momentum. According to traders familiar with the situation, the monetary authorities have been selling small amounts of dollars in recent days to prevent the rupee from falling below the historical low of 88.8050 rupees per dollar. They indicated that this intervention is relatively small compared to last month's large-scale dollar dumping. Even with the Indian Central Bank's interventions, the rupee still faces significant depreciation pressure. HDFC Bank Ltd. senior economist Sakshi Gupta stated, “The story of shorting the dollar is basically over.”