The Indian Rupee experienced a significant decline against the U.S. dollar, reaching a record low of 83.43. Over a series of days, the Rupee's value fluctuated, initially declining by 4 paise to settle at 82.90 against the dollar, then down 4 paise at 82.94 in opening trade, and experiencing various changes in its trading value. It briefly fell past 83/$ for the first time in a month, and despite minor recoveries to 83.02 and 83.06, it ultimately closed at an unprecedented low of 83.42. This decline was part of a broader trend affecting emerging market currencies, exacerbated by China's decision to loosen its grip on the yuan and was influenced by the Fed's decision to not cut rates this summer. The Rupee's fall to its lowest level on record against the U.S. dollar was noted as the steepest weekly fall in seven months.