Rupee slips to all-time low of 88.75 against US dollar! Exporters cheer short term gains; importers face rising costs

The Indian rupee plummeted to a record low of 88.75 against the US dollar, a 47 paise drop. Exporters anticipate improved price competitiveness in global markets, though concerns remain about volatility and increased import costs. While some sectors may benefit, import-heavy industries face challenges due to costlier inputs, impacting trade dynamics.