MUMBAI: The Indian rupee has declined in each of the ten months this year to notch its biggest losing streak in almost four decades as the US Federal Reserve’s hawkish stance on monetary policy catapulted the dollar to two-decade highs.

The dollar index is up 16% this year, having scaled 114.8-levels last month to trade near its 2002 peak. Its ascent has pressured currencies globally, especially ones in emerging Asian markets.