Rupee hits 87 vs. dollar amid global chaos.

• The Indian rupee fell by nearly 0.6% against the US dollar, amidst a global meltdown following US tariffs on Canada, Mexico, and China.

• The rupee closed at 87.11, slipping close to 87.3 during the day.

• A top Finance Ministry official stated that India is unfazed by the currency’s trajectory, referring to it as global uncertainty.

• The government emphasizes the importance of managing volatility, not aiming for a specific currency level.

• Economic Affairs Secretary Ajay Seth stated that India’s policy is to manage currency volatility, not to promote exports.

• India aims to strengthen export competitiveness through better quality.