1 day ago
1
Rupee at record low: The Indian rupee hit a fresh record low against the U.S. dollar on Friday, trading at 88.36 — surpassing its previous all-time low of 88.33 set just days ago. This decline comes amid growing unease over potential U.S. tariffs targeting India.
Experts believe strong dollar demand from foreign banks, worried about escalating trade tensions, weighed on the rupee. Meanwhile, subdued activity from domestic players meant limited support for the local currency.
To prevent a sharper fall, the Reserve Bank of India intervened by selling dollars, helping stabilise the rupee in volatile trade.
Foreign investors have continued to pull money from Indian equities, with FPI net sales reaching approximately $1.4 billion in September alone. This adds to total foreign outflows exceeding $16 billion for the year, highlighting persistent global risk aversion.
English (US) ·