Indian Rupee Weakens Amid US Tariffs and H-1B Visa Fee Hike
US import tariffs on certain Indian goods and a new fee for H-1B visa applications have put significant pressure on the Indian rupee. The currency has weakened against the dollar, with the Indian government expressing concern over the recent news.
On September 19, US President Donald Trump signed an executive order introducing a $100,000 fee for new H-1B visa applications. This is a substantial increase from the previous fee and has added to the existing strain on the Indian currency caused by US tariffs on Indian goods, which were imposed earlier in August.
Major US tech companies have advised their H-1B visa-holding employees to avoid international travel due to the new fee. The Indian rupee has weakened further, trading at 88.82 against the dollar as of 11:31 AM Moscow time, a decline from its closing rate of 88.3 on September 22.
The Indian government is monitoring the situation closely, with officials expressing concern over the impact of US policies on the Indian economy. The increased pressure on the Indian rupee may have broader implications for the country's trade and economic news with the US.
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