The Indian Rupee hit a historic low today, largely owing to the US Dollar's rally and expected outflows from domestic equities. The INR fell to an all-time low of 84.4125 against USD before settling at 84.3925, the same as its closing number in the previous session. This is the fifth straight session that the currency has hit record lows.

The Indian central bank was likely selling dollars to support the rupee after the local currency hit its all-time low on Tuesday, pressured by a Chinese yuan-led decline in Asian currencies, four traders told Reuters.

The Indian rupee reached a new record low on Monday, falling to 84.3875 against the U.S. dollar (approximately Dh22.9938). This decline comes as investor concerns around the impact of Donald Trump’s recent U.