The Indian rupee slipped 7 paise to 88.80 against the US dollar on Wednesday amid US tariffs and H-1B visa fee hike concerns, coupled with persistent foreign fund outflows. Sensex and Nifty also opened lower, reflecting investor risk aversion.

Mumbai: 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, regis

See Full Page