The Indian rupee has reached a record low, trading at 83.64 against the US dollar, marking a significant decline amid ongoing dollar demand from oil firms. On July 19, the rupee closed at a record low, with reports indicating that intervention from the Reserve Bank of India (RBI) may have helped mitigate further losses. Despite positive domestic market conditions and foreign fund inflows, the rupee's performance has been pressured by dollar payments and the weakening of Asian currencies, particularly the Chinese yuan. Analysts from Barclays suggest that India will take measures to ensure the rupee remains competitive in light of these challenges.