Rupee plunges 51 paise to all-time low of 88.79 on H1-B visa, tariff woes

MUMBAI: Panic gripped the foreign exchange markets on Tuesday as the rupee dropped by 0.52% to close at 88.7925 against the greenback, an all-time low. This came amid sustained selling by foreign funds fearing that the double-whammy blows of steep US tariffs and an increase in H-1B visa fees would now disrupt services exports apart from crimping remittances.