The rupee depreciated 7 paise from its all-time closing low to 88.80 against US dollar in early trade on Wednesday dragged down by tariff and H-1B visa issues amid persistent foreign fund outflows. Forex traders said rupee is hovering near its all-time low level as enhanced US tariffs on Indian goods as well as US H-1B visa fee hike dented investor sentiments.

Moreover, investors’ risk-aversion and trade policy uncertainty has also exacerbated the rupee’s depreciation.At the interbank foreign exchange, the rupee opened at 88.80, registering a decline of 7 paise over its previous close. In initial trade the rupee also touched 88.71 against the greenback.

Rupee closed at 88.73 against the US dollar on Tuesday

On Tuesday, the rupee depreciated 45 paise to close at a fresh all-time lo

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