Indian rupee hits record low against the dollar, prompting central bank action

The Indian rupee has fallen to a record low against the US dollar, briefly trading past 92 rupees per dollar. The Reserve Bank of India (RBI), the country's central bank, has stepped in to try to stop the currency's decline.

The RBI is using tools like foreign exchange swaps, worth over $2 billion, to manage the situation. Analysts suggest the rupee may face continued pressure, with its future path closely tied to the central bank's actions and global financial conditions.