INR in tight range after falling to record low

The Indian rupee saw a tight movement against the US dollar. INR added 3 paise on the day to trade at 88.74 per US dollar but held near record lows. The US dollar index trades at 98.08, up marginally on the day after a sharp spike yesterday. Local stocks closed with sharp losses on Friday, marking the sixth straight session of decline. Market sentiment was hit after U.S. President Donald Trump announced a 100% tariff on branded drug imports from 1 October 2025. while continued FII selling and H1B visa concerns added pressure. All sectoral indices on the NSE ended in the red.

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