Amid concerns of rising interest rates and surge in dollar index coupled with widening current account deficit, the rupee fell to its lowest ever level of nearly 82.00 against the US greenback. The rupee has depreciated by more than 10% against the dollar so far this year to hit record low despite frequent interventions by the central bank. India’s ballooning trade gap and capital outflows are raising new risks for the rupee, just as the currency’s plunge to a record low adds to inflation woes. Indian rupee is expected to remain under pressure due to the faster pace of interest rate hikes by the US Federal Reserve.