The rupee has dropped as much as 5.7% against the dollar this year, which has sparked worries of an economic slowdown in Asia.
The RTE index of the rupee index, which measures the greenback’s exchange rate, has dropped 6.7%.
The rupee is now trading at about $US2.1063 per dollar, according to the data provider FactSet.
A big part of the decline is due to the currency’s devaluation, which is expected to cause an immediate economic slowdown.
The Reserve Bank of India (RBI) on Tuesday said the rupees exchange rate should return to normal in the next six to eight months.
It is not the first time the RTE has declined since the ruination of the RTO in January 2016, which saw the ruasing of the currency as well as the ruashore economy take a hit.
In March, the RBI said that the ruas exchange rate could hit a “very low level” in 2018, although it did not elaborate.