特朗普关税影响，印度卢比汇率创新低，沦为年内亚洲表现最差货币

Core Viewpoint - The Indian Rupee has depreciated to a historic low against the US dollar due to concerns over a 50% tariff imposed by the US, which is expected to harm India's economic growth and corporate earnings [1][4]. Currency Performance - The Indian Rupee fell by 0.8% to 88.26 against the US dollar, surpassing the previous record low of 87.9563 set in February [1]. - The depreciation of the Rupee has made it the worst-performing currency in Asia this year, primarily due to ongoing capital outflows [1][4]. Economic Impact - The new US tariffs are projected to reduce India's annual economic growth rate by 0.6 to 0.8 percentage points, with potential GDP impacts of up to 1% if the tariffs remain in place [5]. - Global funds have withdrawn over $13 billion from the Indian stock market this year due to weak corporate earnings [4][5]. Market Performance - The MSCI India Index has underperformed the MSCI Emerging Markets Index for four consecutive months, lagging by over 15 percentage points this year, indicating a trend towards one of the worst annual performances in over two decades [4][5]. Monetary Policy - The Reserve Bank of India (RBI) has cut interest rates three times this year to stimulate the economy, which has weakened the attractiveness of Rupee-denominated assets [5]. - The depreciation of the Rupee has raised concerns about imported inflation, adding further pressure to the economy [5]. Future Outlook - Analysts believe that as long as the US tariff measures are in place, the Rupee will continue to face downward pressure [5]. - The RBI may intervene in the market to stabilize the currency, as indicated by the RBI Governor's comments on maintaining active measures [6].