Rupee Logs Worst Day in Over 2 Months

So far in July, the rupee has declined 1.9 per cent and is down 2.12 per cent in calendar year 2025.

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It is now on track for its worst monthly fall since September 2022, when it weakened 2.32 per cent.

The tariff and penalty announcements are expected to keep the rupee under pressure. The Reserve Bank of India (RBI), in the past, had intervened in the foreign exchange market to curb undue volatility, but dealers said the central bank was not seen intervening on Wednesday. The country's foreign exchange reserves, at $695 billion, acts as a cushion against any such volatility.