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2025-07-31 13:14:46
[Indian rupee close to record low, expected to record its worst monthly performance in nearly three years] The rupee continued to fall, close to its record low after Trump announced plans to impose tariffs of at least 25% on Indian exports. The NSE Nifty 50 index fell 0.9%. The rupee fell more than 2% in July and is expected to record its worst monthly performance in nearly three years, becoming the weakest currency in Asia this year. Goldman Sachs analyst Santanu Sengupta wrote in a report that if the new tariffs continue, India's economic growth may be hit by about 0.3 percentage points. Dhiraj Nim, an economist and foreign exchange strategist at ANZ Bank, said that if market sentiment continues to weaken for a longer period of time, the rupee may gradually fall below 88. The Reserve Bank of India is expected to intervene in the currency market to prevent the rupee from falling below the 88 mark.
