Rupee hits record low as Trump hikes H-1B visa fees

Business Sep 23, 2025

The Indian rupee just dropped to a record 88.76 against the US dollar, following a major increase in H-1B visa fees under President Trump.
This has sparked fresh worries for India's IT industry and remittances, with the rupee dropping during Tuesday's trade.

Visa fee hike could slow down remittances

Higher H-1B visa fees could slow down money sent home by workers and hurt service exports to the US—right when foreign investment is already shaky.
Just yesterday, global investors pulled out nearly ₹2,910 crore from Indian stocks, adding more pressure on markets that are already feeling the heat from global policy shifts.