<h1>Rupee Hits Record Low of 85.75 Against Dollar Amidst Strong Demand and Foreign Fund Outflows; RBI May Intervene.</h1> The rupee declined by 11 paise, closing at a record low of 85.75 against the US dollar, driven by strong dollar demand from importers and foreign fund outflows. The dollar maintained strength against most currencies, impacting investor sentiment. Although domestic equities saw a sharp recovery, the rupee remained weak, trading between 85.50 and 86. The Reserve Bank of India may intervene to support the rupee. Meanwhile, India's manufacturing sector growth hit a 12-month low, and domestic equity markets saw significant gains. Foreign Institutional Investors made net purchases of Rs 1,506.75 crore in the capital markets.