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of <h1>Rupee Hits Record Low of 87.43 Against Dollar Amid Global Trade War Concerns and Potential RBI Rate Cuts</h1> The rupee fell 36 paise to a record low of 87.43 against the US dollar due to global trade war concerns and potential rate cuts by the Reserve Bank of India. The US and China imposed tariffs on each other, heightening market uncertainty. Despite a slight drop in the dollar index, the rupee remained weak amid foreign institutional investor outflows. The Reserve Bank's Monetary Policy Committee is expected to cut rates by 25 basis points. Meanwhile, the BSE Sensex and Nifty indices fell, and India's services sector growth slowed, as indicated by the HSBC India Services PMI.
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