The currency fell 0.3% to 91.0750, hitting a record low for a fourth consecutive session. The rupee had declined past 90 for the first time on 3 December.
After keeping rates unchanged in the past two policy meetings, Governor Sanjay Malhotra said there was scope for rates to come down. But the economy is proving resilient in the face of US tariffs.
The rupee is one of Asia's worst performers, down more than 5% against the dollar, as 50% US tariffs have hurt Indian exports while diminishing the appeal of local equities.
While GDP growth has been robust, punitive US tariffs and weak capital flows have piled pressure on the rupee. It’s down 5.3% this year, the steepest annual fall since 2022.
Possible improvements in US-India trade ties and a lower tariff rate could ease pressure, but if that doesn’t eventuate, RBI may be forced to support the rupee further.
Uncertainty over tariffs on India’s exports to the US and a less certain path for Federal Reserve rate cuts are exerting pressure on the rupee, which fell for a third straight session on Monday to 88.7988 against the dollar.
To curb impact of the levies, PM Narendra Modi has rolled out consumption tax cuts. Both US and India are also looking at resuming negotiations to address the trade barriers.
From Japan in the 1960s to China in the 2000s, many countries transformed their economies by using competitive exchange rates as part of their industrial strategies.
Oil prices dropped after the ceasefire was announced by US President Donald Trump overnight, bringing relief to currencies of oil-importing countries like India.
The old XUV 700 was an indication that the Indian manufacturer had begun to up their game. But 7XO is world-class in terms of fit, finish, and equipment.
As Visakhapatnam readies a mega airport, the Andhra Pradesh government has revived its shelved Dagadarthi project, aiming to boost cargo and connectivity on the south coast.
Both the Russian and Ukrainian militaries are leaning on drones, but they’re also firing cruise and ballistic missiles, some of them relatively new and experimental.
UK, EFTA already in the bag and EU on the way, many members of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
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