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Rupee Hits Record Low of 88.33 Against US Dollar Due to US Tariff Hikes and FII Outflows
- The Indian rupee fell to an unprecedented low of 88.33 per US dollar amid trade tensions and higher US tariffs on Indian goods.
- The US recently increased tariffs on Indian exports by 25%, doubling the overall duty to 50%, hurting India’s export competitiveness and growth outlook.
- Persistent foreign institutional investor (FII) outflows added downward pressure on the rupee and Indian equity markets.
- The Reserve Bank of India has intervened but allowed the rupee to breach the 88 mark, signaling ongoing market volatility.
- Economists expect the tariffs and currency weakness to impact corporate earnings, investment, and economic growth negatively.
Maruti, Hyundai Hit Record Car Sales on Navratri Day 1 Amid GST Cuts Boosting Affordability
- Maruti Suzuki sold 30,000 cars on the first day of Navratri, its best single-day sales in 35 years.
- Hyundai Motor India recorded 11,000 car sales on the same day, its highest in five years.
- GST 2.0 reforms lowered taxes on small cars to 18%, cutting prices and boosting demand significantly.
- Bookings for Maruti’s small cars rose by 50%, with around 80,000 customer enquiries recorded.
- Dealers and automakers credited GST cuts and festive sentiment for the surge in car sales and customer confidence.
India’s Smartphone Exports to US Fall 58% Despite Tariff-Free Status: Think Tank Flags Alarming Trend
- India’s smartphone exports to the US dropped by 58% from May to August 2025, going from $2.29 billion to $964.8 million.
- This drop is surprising because there are no tariffs on smartphones in the US.
- The decline happened steadily over the months: $2 billion in June, $1.52 billion in July, and then the biggest fall in August.
- The US is still the largest buyer of Indian smartphones, buying $10.6 billion worth in the fiscal year 2025.
- Experts are calling for an urgent investigation to find out why exports are falling—possible reasons include production shifts or supply issues.
Recent US H-1B Visa Changes Do Not Impact Indian Tourist Visas: What Travellers Should Know
- The new $100,000 fee applies only to new H-1B visa applicants from September 21, 2025; existing visa holders and renewals are not affected.
- Indian tourists applying for B-1/B-2 visitor visas are not impacted by the H-1B fee hike or policy changes.
- Tourist visa rules and processes remain the same for Indians traveling for tourism, business meetings, or family visits.
- Initial panic among Indian H-1B workers has been eased with clarifications that tourist visas remain unaffected.
- Other visa policy updates include mandatory in-person visa interviews and enhanced digital background checks, affecting all visa applicants but not specifically linked to H-1B changes.
SEBI Clears Adani Group, Dismisses Hindenburg Manipulation Allegations
- SEBI has cleared Adani Group companies and key individuals, dismissing allegations of stock manipulation made by Hindenburg Research.
- The regulator found no violations or wrongdoing after a detailed probe.
- No penalties or directions were imposed against the Adani entities or Gautam Adani.
- The allegations claiming use of complex structures to manipulate stocks were unproven.
- This order restores confidence amid prior controversies from the Hindenburg report.
RBI Simplifies Rules for Payment Aggregators with Stronger Safeguards
- They are classified based on transaction type: physical, online, and cross-border.
- Non-bank aggregators must have ₹15 crore net worth initially, ₹25 crore by year 3.
- Customer money must be kept in separate escrow accounts.
- Cross-border aggregators need RBI approval and limits apply.
- Strict checks on merchants, fraud prevention, and strong security are mandatory.