The Indian rupee witnessed a significant drop, slipping 38 paise to close at 85.82 against the US dollar amidst global market turmoil driven by trade tensions and concerns of an economic slowdown. Despite a decrease in crude oil prices, the rupee faltered as Foreign Institutional Investors (FIIs) and local investors pulled out. The Reserve Bank of India’s (RBI) upcoming monetary policy announcement and the downward trend in crude prices could impact the rupee’s trajectory in the coming days.