Indian Rupee Hits Record Low Amid Economic Concerns and Protests

Economic Challenges and Currency Decline

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The Indian rupee has plummeted to a historic low of 88.3 against the US dollar as of Friday, driven by worries over a 50% tariff imposed by the US on imports from India. The currency dropped by 0.65%, closing at 88.19, marking its steepest single-day decline in almost three months.

Previously, the rupee had reached its lowest point of 87.95 in February. Currently, it stands as the worst-performing currency in Asia for this year.

A foreign exchange strategist noted that these tariffs, effective from Wednesday, could exacerbate India's balance of payments issues, weaken financial inflows, and increase the trade deficit.

Protests for Maratha Reservations Continue

Activist Manoj Jarange-Patil has initiated another indefinite hunger strike at Azad Maidan in Mumbai, demanding reservations in government jobs and education for the Maratha community under the Other Backward Classes category. This marks his ninth protest in the last two years.

On Friday, he accused the Maharashtra government of failing to cooperate and pledged to persist until his demands are addressed.

In response, Chief Minister Devendra Fadnavis assured the media that the government is committed to supporting the Maratha community and is working towards a constitutionally valid resolution.

Indian Economy Shows Growth

Recent government data indicates that the Indian economy expanded by 7.8% in the first quarter of the financial year 2025-’26, marking the highest growth rate in five quarters. This growth surpasses the 6.5% GDP growth recorded during the same period last year.

The growth rate for this quarter also exceeds the Reserve Bank of India’s forecast of 6.5% for the first quarter. On August 6, the central bank projected the GDP growth for the entire financial year 2025-’26 to remain at 6.5%.

Flash Floods in Uttarakhand

In Uttarakhand, several families have become trapped under debris following a cloudburst that triggered flash floods in the Rudraprayag and Chamoli districts on Friday. Continuous rainfall has also caused disruptions in other regions of the state.

Chief Minister Pushkar Singh Dhami reported cloudburst incidents from the Bareth Dungar Tok area in Rudraprayag’s Buskedar tehsil and the Deval area of Chamoli district.

The state has been experiencing heavy rainfall in recent weeks, with at least two individuals reported missing in Chamoli due to floods caused by overnight rain on August 23.

Arrest Made Over Abusive Slogans

A man has been detained for allegedly shouting derogatory slogans about Prime Minister Narendra Modi during an Opposition rally in Darbhanga, Bihar. This incident occurred on Wednesday during the INDIA bloc’s Voter Adhikar Yatra, which aims to address alleged electoral roll irregularities.

Footage of the event has circulated widely on social media, prompting strong reactions from leaders of the Bharatiya Janata Party and its National Democratic Alliance partners. On Friday morning, clashes erupted between BJP and Congress workers in Patna during a protest by the Hindutva party against the slogans.

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