The Indian rupee weakened to its all-time low on Wednesday, pressured by heightened dollar bids in the non-deliverable forwards (NDF) market, while likely intervention by the Reserve Bank of India (RBI) helped limit losses,

The problem for the government and its many fervent supporters is that they will have to decide if the rupee is a barometer of national pride and economic prowess or if it is not the shining example we should turn to when discussing the Central government’s many flattering features.

The Indian rupee hit a new low against the US dollar. Demand from importers and the NDF market pushed the rupee down. The Reserve Bank of India intervened to curb further losses. Asian currencies traded mixed.

The Indian rupee fell to an all-time low on Thursday, pressured by a lingering depreciation bias and heightened demand for the U.S. dollar in the non-deliverable forwards (NDF) market, while the central bank's intervention helped prevent sharp losses.