The Indian rupee witnessed a significant drop, declining by 38 paise to close at 85.82 against the US dollar. This decrease can be attributed to the global market instability caused by trade disputes and concerns about economic growth. Even with a decrease in crude oil prices, the rupee faltered as both Foreign Institutional Investors (FIIs) and local investors pulled out. The Reserve Bank of India’s (RBI) upcoming monetary policy announcement and the continued decrease in crude prices are expected to play a role in determining the rupee’s direction in the coming days.