The Indian rupee has fallen to an all-time low against the US dollar following the government's decision to raise taxes on capital gains from stock investments.
The new tax rates, effective from August 1, aim to boost revenue but have spooked investors, leading to a sell-off in the stock market. The tax increase is seen as a double-edged sword: while it seeks to shore up public finances, it also risks dampening investment in India's growing financial markets​