According to an informed trader, since the Indian rupee exchange rate is close to a record low, the Bank of India is selling the US dollar in domestic and foreign exchange markets. USD/INR once fell 0.1% to 96.6750. The pair's all-time high was 96.9650 in May. Since September, against the backdrop of high oil prices, the rupee has depreciated by nearly 2% due to large outflows of capital from the stock market.

According to an informed trader, since the Indian rupee exchange rate is close to a record low, the Bank of India is selling the US dollar in domestic and foreign exchange markets. USD/INR once fell 0.1% to 96.6750. The pair's all-time high was 96.9650 in May. Since September, against the backdrop of high oil prices, the rupee has depreciated by nearly 2% due to large outflows of capital from the stock market.