India’s most dramatic step in more than a decade to curb speculation in the foreign-exchange market delivered only fleeting gains, with the rupee’s initial jump reversing.
India’s most dramatic step in more than a decade to curb speculation in the foreign-exchange market delivered only fleeting gains, with the rupee’s initial jump reversing.
500 rupee banknotes counted by a cash counting machine at a currency exchange in New Delhi, India, on Saturday, Aug. 30, 2025. The Indian rupee slumped to a record low versus the dollar on concern that 50% US tariffs will hurt the country’s economic growth and corporate earnings. Photographer: Prakash Singh/Bloomberg
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