Indian rupee hits 87.36 against US dollar: What's going on
The rupee slipped to 87.36 against the US dollar on Friday, mainly because importers and a big public sector bank bought dollars.
Some good news: foreign investors are still bringing money into India, and cheaper crude oil helped cushion the fall a bit.
Now, everyone's waiting to see if Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium will shake things up further.
Here are the reasons for the fall
The dollar got a little stronger (the index is up 0.10%), while Brent crude oil prices dipped slightly to $67.55 per barrel amid increasing signs that peace negotiations between Russia and Ukraine were stalling.
Indian stock markets also took a hit—Sensex dropped by 262 points and Nifty by 81—as traders worry about new US tariffs on Indian exports coming August 27, 2025, which could make trade between the two countries trickier.
Despite these bumps, steady foreign investment and lower oil prices are helping keep things from getting worse for now.