The Indian rupee has hit a two-week low, reaching 86.27 against the US dollar, as a result of a stronger dollar index and a weaker Chinese yuan. Corporate demand for the dollar surged with the recovery of the equity market, while the year-end supply of the dollar dried up. The yuan’s decline, triggered by US tariffs, has put pressure on the rupee and other Asian currencies, causing the Indonesian rupiah to plummet to a historic low.