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Rupee Extends Losses, Slumps 48 Paise to All-Time Low of 88.76 Against U.S. Dollar
The rupee fell to 88.64 per dollar amid US tariffs and a $100,000 H-1B visa fee increase, impacting Indian investors and the technology sector, with 72.3% of visas held by Indians.
- On Tuesday, the Indian rupee sank to a record 88.64 per US dollar in early trade, falling 36 paise from Monday's close of 88.28.
- U.S. policy shifts, including higher tariffs and the H-1B fee hike, raised export costs for Indian exporters and the IT sector amid trade-policy uncertainty and global risk aversion.
- Market data show that Foreign Institutional Investors offloaded Rs 2,910.09 crore on Monday, with the Sensex falling 271.99 points, Amit Pabari said, `'Equity markets reflected the nervous mood, with investors pulling out Rs 2,910.09 crore on Monday.`
- The Reserve Bank of India intervened by likely selling dollars via state-run banks near the 88.50 level to support the rupee without defending any specific level on Tuesday.
- Year-to-Date metrics show the rupee has weakened about 3.25%, and foreign investors have withdrawn more than $15 billion from Indian equities in 2025.
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Why is the rupee sinking even as the dollar weakens globally?
The rupee fell to 88.80 against the dollar on September 24, near its record low, despite the Dollar Index dropping over 11 per cent this year. Foreign investors have sold $16 billion worth of Indian equities in 2025, while a $100,000 H-1B visa fee hike and higher US tariffs have put pressure on India’s markets
·Mumbai, India
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Coverage Details
Total News Sources14
Leaning Left4Leaning Right3Center0Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
R 43%
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