"The Indian Rupee fell to a record low of 86.36 per U.S. Dollar on January 13, 2025, due to strong U.S. Jobs data and rising oil prices, reported Reuters. Foreign investors withdrew over $4 billion from Indian equities this month, contributing to the rupee's decline, according to forex traders. Jefferies forecasts the rupee could weaken to 88 against the dollar in the near-to-medium term, while Gavekal Research predicts it may breach 90 this year. The Reserve Bank of India's forex reserves dropped by USD 5.693 billion to USD 634.585 billion in the week ended January 3, according to exchange data."