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Rupee opens at 87.58 against US dollar
The rupee opened just a tad higher at 87.58 against the US dollar on Friday, but it's still down about 1.7% for July thanks to new US tariffs and money flowing out of India.
US tariffs expected to shave off GDP growth
US tariffs—now up to 25% on some Indian goods—are expected to shave 0.1-0.3% off India's GDP growth, making exports tougher.
The good news? Key sectors like smartphones and pharma are spared for now, which helps since they make up a big chunk of India's exports.
Foreign investors have pulled out over ₹5,500 crore
Foreign investors have pulled out over ₹5,500 crore from Indian stocks recently due to tariff jitters and currency swings.
Analyst Jateen Trivedi says the rupee could stay under pressure between 87.25 and 88 as these trends continue.