Rupee holds firm at 88.76 per US dollar
The Indian rupee held firm at 88.76 per US dollar in early trade on Friday, staying close to last month's high.
Over the past year, it's slipped by more than 5%, according to RBI data.
A weaker rupee means everyday imports get pricier
A weaker rupee means everyday imports—like fuel and electronics—get pricier, which can push up inflation for everyone.
It also makes life tougher for businesses that rely on foreign goods or loans, squeezing profits and making planning harder.
Analysts expect rupee to hover near current levels through year-end
The main culprits are a strong US dollar and global economic jitters pushing investors away from emerging markets like India.
Outflows of capital and worries about higher US visa fees have added pressure too.
The RBI kept interest rates steady on October 1 but hinted at possible support ahead; analysts think the rupee could hover near these levels through year-end.