Indian Rupee Hits New Low of ₹88.09 Against U.S. Dollar
• The Indian rupee fell 0.58% to ₹88.09 against the U.S. dollar due to additional tariffs imposed by the U.S.
• Analysts predict the domestic currency may depreciate further to ₹89.5-₹90 against the U.S. dollar in the coming weeks.
• Currency dealers reacted two days after U.S. tariffs on Indian goods kicked in before selling off the rupee.
• Anindya Bannerjee, Currency and Commodities Head of Kotak Securities, said dealers were waiting to see if the RBI would intervene to control the volatility.
• Maneesh Sharma, head of ASHOKAMITHRAN T., MUMBAI Commodities and Currencies Research at Anand Rathi Shares and Stock Brokers, expects the RBI to intervene if the rupee crosses ₹89.5 against the greenback.
Indian Rupee New Low is important topic for Civil service exam (WBCS).
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