<h1>Rupee Hits Record Low at 85.83 Against Dollar Amid Stronger USD, Rising Oil Prices, and Market Uncertainty.</h1> The rupee fell by 9 paise to a record low of 85.83 against the US dollar due to a stronger dollar and rising crude oil prices. This depreciation was influenced by subdued domestic equity markets and better US economic growth prospects, which delayed an expected Federal Reserve interest rate cut. India's economic growth is projected to decline to 6.4% for 2024-25, the lowest since the pandemic year, due to underperformance in manufacturing and services. The rupee's decline coincided with a higher dollar index and increased Brent crude prices, while foreign institutional investors withdrew substantial funds from the capital markets.