Rupee at all-time low! Currency slumps 45 paise to close at 88.73 against US dollar; Visa fee shock, FII outflows add pressure
The rupee plummeted to a record low of 88.73 against the US dollar due to continuous foreign fund outflows and concerns over the increased US H-1B visa fee, which could negatively impact India's IT sector. The decline occurred amidst bearish market sentiment, external pressures, and persistent outflows, despite positive domestic economic data.
The rupee plummeted to a record low of 88.73 against the US dollar due to continuous foreign fund outflows and concerns over the increased US H-1B visa fee, which could negatively impact India's IT sector. The decline occurred amidst bearish market sentiment, external pressures, and persistent outflows, despite positive domestic economic data.
