The Indian rupee has updated its historical low amid concerns about US duties

The Indian rupee has dropped to a record high against the dollar amid concerns that new US tariffs of 50% will hit the country's economic growth and corporate earnings.

The exchange rate of the national currency decreased by 0.4% to 87.9763 per dollar, exceeding the previous anti-record of February (87.9563). Since the beginning of the year, the rupee has remained an outsider among Asian currencies, losing ground due to the constant outflow of foreign investment from Indian stocks.

The pressure intensified after the entry into force of new US duties, which affected India's key export industries — textiles, footwear and jewelry. According to analysts, the measures introduced could slow down the country's annual GDP growth by 0.6-0.8 percentage points.

The head of the Reserve Bank of India, Sanjay Malhotra, previously noted that uncertainty around the US tariff policy would provoke fluctuations in the rupee. At the same time, according to him, the volatility of the Indian currency remains lower than that of a number of others, including the dollar.