The Indian rupee wrapped up 2024 in disappointing fashion, closing at a record low of 85.6150 against the U.S. dollar on Tuesday. This marks its sixth consecutive session of losses and a 2.8% drop for the year—a grim seventh straight year of annual declines. Weakness wasn’t exclusive to the rupee, as most Asian currencies struggled. The offshore Chinese yuan tumbled 0.6% to 7.35, its lowest in over a year, following tepid factory activity data from China. The broader backdrop wasn’t much better, with a slightly softer dollar index at 107.9 and U.S. bond yields inching down during Asian trading hours. Despite the broader regional context, the rupee’s persistent slump underscores concerns about its trajectory in 2025. Investors are grappling with the potential for continued losses as global and domestic factors exert pressure. While the closing days of 2024 brought no surprises, they left a sour taste, setting the stage for what could be another challenging year ahead for the currency.