Rupee hits all-time low of 91.6750/$; trade deficit widens
Business
The rupee just slid to a historic low of 92 against the US dollar, weakening over the past year.
This dip is mostly due to unabated foreign fund outflows and dollar strength.
Imports get pricier, trade gap grows
With the weaker rupee, buying things from abroad—like crude oil and electronic items—is getting more expensive for India.
In December alone, imports hit $63.55 billion and the trade deficit stood at $25.04 billion.
RBI steps in as exporters gain
Exporters are earning more rupees per dollar now (which helps sectors like textiles), but for industries that rely on imported parts—like electronics—the higher costs are biting hard.