Rupee slumps 45 paise to end at fresh all-time low of 88.73 against US dollar

Tue, 23 September 2025

20:29

The rupee depreciated 45 paise to close at a fresh all-time low of 88.73 against the US dollar on Tuesday, amid sustained outflow of foreign funds on the back of a steep hike in US H-1B visa fee that is expected to give a big blow to Indian IT services exports.

Forex traders said the rupee dwindled towards record low levels as market participants analysed the likely repercussions of the new $100,000 H-1B visa levy, which could precipitate a slowdown in remittance growth and curtail service exports to the US.

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