The Indian rupee witnessed a significant drop, sliding 38 paise to close at 85.82 against the US dollar, attributed to worldwide market instability stemming from trade disputes and concerns over economic deceleration. Even with a decrease in crude oil rates, the rupee faltered as both Foreign Institutional Investors (FIIs) and local investors pulled out. The Reserve Bank of India’s (RBI) upcoming monetary policy verdict and the continued low levels of crude prices are expected to play a pivotal role in shaping the trajectory of the rupee in the coming days.