Rupee Hits Record Low on Tariff Jitters, but Central Bank Caps Decline

Rupee hits record low on tariff jitters, but central bank caps decline

INDIA-MARKETS/RUPEE:INDIA RUPEE-Rupee hits record low on tariff jitters, but central bank caps decline

Rupee Hits New All-Time Low, Closes 15 Paise Down At 88.27 Against US Dollar

The rupee declined 15 paise to close at an all-time low of Rs 88.27 (provisional) against the US dollar on Friday amid sustained outflow of foreign funds and fear of additional US tariffs against India.A weak greenback and falling crude oil prices failed to prevent the fall in local unit, forex traders said.At the interbank foreign exchange, the rupee opened at 88.11 against the US dollar and touched the lowest-ever intraday level of 88.38 befor…