The Indian rupee posted its sharpest single day loss in over six months, closing at a record low of 89.50 after stop-loss levels were triggered when the Reserve Bank of India refrained from defending the 88.80 level. Sentiment was further dampened by diminishing expectations of progress on the India US bilateral trade agreement. Since the start of 2025, the rupee has weakened 4.3% against the US dollar and continues to underperform even as several Asian currencies have shown relative stability
