Rupee hits record low against US dollar, then recovers slightly
The rupee had a rough week, dipping to a record low of 87.59 against the US dollar on Thursday thanks to new US tariffs.
By Friday, it managed a slight comeback to 87.53—though heavy demand from oil companies and money leaving the country kept things tense.
The RBI likely stepped in to help stabilize things.
Experts expect rupee to hover between 87.25 and 88/$1 next week
A stronger US dollar (the dollar index jumped from 97.6 to 100) put extra pressure on the rupee, with traders pointing fingers at President Trump's new tariffs for shaking up global currencies.
With an RBI $5 billion swap deal expiring, experts expect the rupee to hover between 87.25 and 88 per dollar next week.
As Anil Bhansali from Finrex Treasury Advisors puts it, RBI's active efforts—like currency swaps and direct market moves—are key for keeping things steady right now.