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of <h1>Indian Rupee Hits Record Low at 87.58 Against USD Amid Rate Cut Speculation and Economic Slowdown Indicators</h1> The Indian rupee fell to a record low of 87.58 against the US dollar, dropping 15 paise amid speculation of a potential rate cut by the Reserve Bank of India (RBI). The currency has declined over 2% this year, exacerbated by global trade tensions and strong dollar demand from foreign banks and importers. The dollar index rose, while weak PMI data indicated a slowdown in India's economic activity. The RBI's Monetary Policy Committee is expected to announce its decisions soon, as the equity market also saw declines with foreign institutional investors selling equities.
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