Rupee slips 60p to 85.84/$, worst fall since January

The rupee plunged to 85.84 against the dollar, marking its biggest single-day drop in almost three months, influenced by a domestic equity selloff and a stronger dollar index. Escalating trade tensions between the US and China, highlighted by retaliatory tariffs, fueled risk aversion and capital outflows from emerging markets like India, further weakening the rupee.