The Indian rupee has fallen past the 84-mark for the first time, hitting a record low of 84.11 against the US dollar.
This drop is due to foreign institutional investors (FIIs) selling off $5.7 billion in stocks and $125 million in bonds this month. Analysts say that China's recent economic policies have attracted investment away from India, contributing to this decline. Furthermore, geopolitical tensions and rising Brent Crude prices have increased risk aversion, while the US Federal Reserve's cautious approach to interest rates has strengthened the dollar.