Rupee holds ground against dollar amid H-1B visa fee concerns
The rupee opened steady at 88.75 against the dollar, holding its ground despite fresh concerns over a possible hike in US H-1B visa fees.
If these fees go up, it could mean less money coming home from Indian IT professionals and more outflows from tech stocks.
Visa tariff, foreign investment pullout worries weigh on rupee
Foreign investors have already pulled over $15 billion out of Indian stocks in 2025, adding pressure on the rupee.
A weaker rupee makes imports pricier and can shake up markets here.
Amit Pabari from CR Forex Advisors noted the USD/INR rate could briefly hit 89 if tariff and visa worries continue.
Other Asian currencies also feeling the heat
It's not just India—other Asian currencies like the Thai Baht and Japanese Yen are also sliding.
Still, stable oil prices and solid domestic fundamentals are helping cushion the blow for now.
Positive progress in ongoing US-India trade talks could help turn things around in the coming weeks.