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Rupee at all-time low: Rupee weakened further on Tuesday, hitting an all-time intraday low of Rs 88.53 against the US dollar, as global uncertainties and policy shocks rattled investor confidence. The domestic currency opened at Rs 88.41 and quickly ceded ground, following a 12-paise loss on Monday.

Traders cited the USD 100,000 H-1B visa levy as a key factor affecting market sentiment. While the fee applies only to new applications from 2026, investors are factoring in potential slowdowns in remittances and service exports. Additional headwinds came from enhanced US tariffs on Indian goods, intensifying concerns over India-US trade relations.

On Monday, foreign institutional investors (FIIs) sold equities worth Rs 2,910 crore, reflecting cautious positioning ahead of upcoming policy clarifications. Analysts said these outflows, combined with global risk aversion, contributed to the rupee’s sharp decline.

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Indian equity benchmarks opened on a subdued note, with the BSE Sensex down 207.78 points (0.25 per cent) at 81,952.19 and Nifty 50 sliding 68.40 points (0.27 per cent) to 25,133.95. Forex traders expect volatility to persist until trade negotiations and H-1B clarifications provide clarity.

Commerce and Industry Minister Piyush Goyal is leading an official delegation to the US for discussions aimed at a mutually beneficial trade agreement. Any positive outcome is expected to stabilize the rupee and potentially lift investor sentiment.

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Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.