How many rupees it takes to buy one US dollar — India's most-watched currency pair.
A rising USD/INR number means the rupee is weakening (it takes more rupees to buy a dollar); a falling number means the rupee is strengthening. Rupee moves are driven by FII flows, the trade balance, crude oil prices (India imports most of its oil in dollars), and relative interest-rate differences with the US.
A weaker rupee raises import costs (especially oil, which feeds into inflation) but benefits export-heavy sectors like IT services, since their dollar revenue converts into more rupees.