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Story summary
- The Indian rupee hit record lows, becoming Asia’s worst-performing currency.
- The rupee depreciated beyond 90 per US dollar, raising costs for oil imports and tuition.
- Ajay Sahai of the Federation of Indian Export Organisations says the depreciation offers short-term relief to exporters facing US tariffs up to 50%.
- India's merchandise exports fell 11.8% year-on-year to $34.4 billion in October, with US shipments down 8.5%.
