Amid global tumult, Rupee breaches 87 against dollar

The Indian Rupee dropped nearly 0.6% to breach the 87 mark against the U.S. Dollar amidst a global meltdown for emerging market currencies after President Trump imposed higher tariffs on Canada, Mexico, and China. Economic Affairs Secretary Ajay Seth emphasized India’s focus on managing volatility and not using exchange rate policies to promote exports, aiming to make the country more self-reliant and competitive. The government aims to address uncertainties and strengthen export competitiveness through quality improvements and avoiding cost disadvantages in tariff policies and regulations.

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