Rupee hits 88.36 against the dollar amid fears of U.S. tariffs; RBI steps in with dollar sales to limit losses as foreign investors pull out $1.4 billion in September. Source link
The Indian rupee strengthened marginally to 87.53 a dollar Friday on likely intervention from the Reserve Bank of India (RBI), capping off a rough and tumultuous week punctuated with unexpectedly punitive tariffs on US-bound shipments from the country. Traders said sustained portfolio outflows and a significantly higher baseline tariff than anticipated earlier led to substantial…