The Indian rupee has fallen to a record low of 95.08 against the US dollar, driven by escalating crude oil prices, which are currently above $100 per barrel, and substantial foreign capital outflows totaling nearly $20 billion. In response, the Reserve Bank of India (RBI) is considering measures reminiscent of the 2013 currency crisis. These include potentially reviving a special deposit scheme for non-resident Indians (NRIs) that previously helped attract around $26 billion in dollar deposits. Additionally, the RBI is contemplating the removal of the 5% withholding tax on foreign investments in Indian government bonds to stimulate inflows. Despite having forex reserves of approximately $698 billion, down from a peak of $728.5 billion, the RBI's interventions in the currency markets have not fully stabilized the rupee. Analysts note that while these strategies could provide temporary relief, the current economic conditions, including geopolitical tensions and higher global interest rates, present a more challenging environment than in 2013.