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Core Viewpoint - The Indian Rupee is under significant depreciation pressure against the US Dollar, reaching historical lows due to various factors including strained US-India relations and high tariffs imposed by the Trump administration [2][4][6]. Group 1: Currency Depreciation Factors - The Indian Rupee has depreciated to 88 Rupees per Dollar, marking a historical low, and remains weak despite expectations of US interest rate cuts [4]. - Since April 1, prior to the announcement of reciprocal tariffs by the Trump administration, the Rupee has fallen by 3.6%, making it the weakest among major Asian currencies [6]. - The imposition of a 25% additional tariff on Indian imports of Russian oil has contributed to the Rupee's depreciation, resulting in a total tariff rate of 50%, the highest globally [6][8]. Group 2: Visa Restrictions Impact - The Trump administration's decision to impose a $100,000 fee on H-1B visas, predominantly utilized by Indian professionals, is exerting additional pressure on the Rupee [8]. - Approximately 70% of H-1B visa holders are from India, and a reduction in talent flow to the US could negatively impact project orders for Indian businesses, leading to a long-term depreciation of the Rupee [8]. - The IT sector, which is heavily reliant on US operations, is facing stock price declines due to increased visa costs, with the Nifty IT index dropping 14% over three months [8][9]. Group 3: Market Reactions and Predictions - The sell-off of major IT stocks is expected to affect the broader Indian market, with net foreign investor sell-offs projected to reach approximately 1.6 trillion Rupees by early October 2025, the fastest rate since 2002 [9]. - Concerns regarding the credibility of India's economic growth trajectory are rising among investors [9]. - The Indian government is actively intervening to stabilize the Rupee through non-deliverable forward (NDF) transactions, but ongoing issues with US-India relations and visa restrictions suggest continued depreciation, with predictions of the Rupee reaching 90 Rupees per Dollar by 2026 [10].