Rupee at record low: Markets eye RBI’s next move as currency breaches 89; corporates’ worries mount

The rupee’s recent slide past 88 against the dollar has sparked concerns in financial markets, prompting banks to reduce trading exposures. Importers with unhedged positions and corporates using forex derivatives face potential losses. Experts suggest the RBI might allow further depreciation to aid exporters, especially with US tariffs looming.