MUMBAI, Sept 22 (Reuters) – The Indian rupee weakened slightly on Monday, pressured by weakness in Indian IT stocks following the imposition of steep U.S. visa fees, which may threaten the firms’ long-standing business models.
The rupee was at 88.16 as of 10:45 a.m. IST, down 0.1% from its close at 88.09 on Friday.
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At a macro level, the change in visa policies could impact India’s software service exports, professional and management consultancy services exports, and remittance inflows into the country, according to analysts at Citi.
Rupee weighed down by US visa fee jolt, eyes trade talk progress
