Indian rupee dips to record low against US dollar as equities stay slippery

The Indian rupee fell to a record low against the US dollar today, adding to recent losses on concerns over the impact of the 50 percent tariffs imposed by the US on Indian goods. INR broke the 88 per US dollar mark and tanked around 60 paise on the day at 88.19 per US dollar. The domestic equity indices ended with modest losses today, marking the third consecutive session of decline. The weakness was attributed to fragile investor sentiment following the implementation of steep US tariffs on Indian goods. The Nifty settled below the 24,450 mark, testing two and half week low.