Rupee bounces back after hitting record low against the dollar
On Wednesday, the Indian rupee closed at 90.38 per US dollar, clawing back some ground after hitting an all-time low of 90.93 against the dollar on Tuesday.
The recovery came after a volatile session, with hints that the Reserve Bank of India may have stepped in to steady things.
Why does this matter?
A weaker rupee means imported stuff—from gadgets to fuel—can get pricier for everyone.
The rupee has dropped 6% this year, making it Asia's worst performer so far, mostly because of global pressures like US tariffs and foreign investors pulling out money.
What's behind the slide?
It's not just about India—a stronger US dollar is adding extra weight on the rupee.
Even though India's economy is growing and its forex reserves are solid, global uncertainty is keeping traders on edge and could mean more ups and downs ahead.