The Indian rupee has reached its lowest level in two years, depreciating 0.7% in a single day to 86.7550 against the US dollar. Since December, the rupee’s value has dropped by 2%, driven by India’s slow economic growth and expectations of an interest rate cut by the central bank in February. Analysts predict further depreciation unless significant interventions are made. The decline has also strained the central bank’s reserves, highlighting broader economic challenges.

The interim government has approved a 3% hike in supplementary duty on mobile services, raising it from 20% to 23%. This increase will further reduce the value of mobile recharges, leaving users with only 43.7 BDT worth of service per 100 BDT recharge. The move has sparked criticism from consumer rights groups, citing rising costs as a barrier to internet accessibility and technological progress. Mobile and internet subscriber numbers have already declined significantly due to escalating costs.