The rupee depreciated by 25 paise to hit a record intraday low of 88.53 against the US dollar in early trade on Tuesday, led by factors such as higher US tariffs on Indian goods and the hike in H-1B visa fees, which dampened investor sentiment.
According to forex traders, global risk aversion and uncertainty surrounding trade policies further added to the rupee’s decline.
At the interbank foreign exchange market, the currency opened at 88.41 and later slipped to an intraday low of 88.53 per dollar, down 25 paise from its previous close.
On Monday, the rupee had already weakened by 12 paise, ending the session at 88.28 against the US dollar.
(This is a developing story)
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