Rupee Hits Record Low as Turkish Lira Leeds EM Currency Sell-Off

The video discusses the impact of the Turkish lira's decline on Asian currencies, particularly the Indian rupee, Indonesian rupiah, and Philippine peso. These currencies have been affected due to global risk aversion and wider current account deficits. The Reserve Bank of India is intervening in the FX market to curb the rupee's decline but is not expected to protect any specific level.

What is the significance of current account deficits in the context of currency vulnerability?

What measures are being taken by the Reserve Bank of India to curb the decline of the rupee?