Citibank: The Indian Rupee may weaken against the US Dollar.

Rohit Garg, from the Citigroup Investment Research, stated that in the past few weeks, the exchange rate between the US dollar and the Indian rupee has been around 88 rupees, but now the risk is clearly leaning towards the rupee weakening, and it may approach 90 rupees in the coming months. India has been facing a tough external environment in the past few months. Garg mentioned in a report that firstly, the US will increase tariffs on India to 50%, and recently, President Trump signed a proclamation imposing a visa fee of $100,000 on H-1B visa applications. Citigroup economists estimate that the total trade between the US and India is approximately $250 billion, including exports of goods and software services, as well as remittances. Garg added, "The current challenging background may affect this figure and may put pressure on the current account and the Indian rupee."