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The Indian Rupee faced a significant drop, hitting a record low. This decline was influenced by concerns over U.S. tariffs and increased H-1B visa fees. Central bank intervention helped to control the losses. The rupee's performance has been among the weakest in the region this year. Restrictions on services exports could further impact the currency.
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The influential policy group lifts its forecast for UK inflation, saying it will be 3.5% in 2025.
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The uncertainty is worrying builders, said Molly McShane, CEO of The McShane Cos., a national real estate and development firm. People understand deals wont move forward if prices change four times a week.
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News and Media
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