The Indian rupee weakened by 7 paise to 88.80 against the US dollar in early trade on Wednesday, edging closer to its all-time closing low. The currency came under pressure amid concerns over enhanced US tariffs on Indian goods, higher H-1B visa fees and sustained foreign fund outflows.
Forex traders said the rupee remains under strain due to heightened trade-policy uncertainty and investors’ risk-aversion, which have further weighed on market sentiment.