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Indian rupee closes at record low of 87.59 against dollar
The Indian rupee just closed at a record 87.59 against the US dollar, mostly thanks to worries about US tariffs and foreign investors pulling money out of Indian stocks.
The rupee even dipped as low as 87.74 during the day before bouncing back a bit.
Global pressures are making it tough for the rupee
Traders think India's central bank may have stepped in to help steady things, but global pressures—especially a strong US dollar and ongoing economic uncertainty—are making it tough for the rupee to hold its ground.
All this highlights how tricky it is for India to keep its economy stable when global markets are so unpredictable.