Indian rupee opens at 88.69 per US dollar
The Indian rupee opened a bit stronger at 88.69 per US dollar on Friday, bouncing back slightly from its record low earlier this week.
Still, it's hovering near all-time weak levels as global money moves out and world events keep things tense.
Investors are worried about rising inflation
A shaky rupee can generally make imports pricier, push up inflation, and shake investor confidence—stuff that affects everything from travel to tech prices.
On Friday alone, foreign investors pulled out over ₹5,600 crore from Indian stocks.
All eyes are now on the RBI's big policy meeting on October 1, which could steer where the rupee goes next.
Forex reserves have dropped by $396 million
New US tariffs on imported branded drugs (starting October 1) are adding to the pressure.
Plus, India's forex reserves just dropped by $396 million in one week—a sign there's less backup if things get rough for the currency.