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Indian rupee hits record low of 88.47 against US dollar
The Indian rupee just hit a record low of 88.47 against the US dollar this Thursday, dropping 36 paise in a day.
This slide comes from ongoing tariff tensions with the US, a strong American dollar, rising crude oil prices, and foreign investors pulling money out of India.
Experts say these global pressures are likely to keep the rupee trading in a tight range for now.
Foreign investors sold off over ₹115 crore in shares
Even with the rupee's fall, Indian stock markets held their ground—Sensex and Nifty both closed higher today.
Still, foreign investors sold off over ₹115 crore in shares yesterday, adding to the rupee's weakness.