Rupee hits record low against US Dollar amid Trump’s tariff threats
text_fields
New Delhi: The rupee hit a record low on Monday of 87.29 against the US dollar depreciating 67 paise.
The fall of the rupee past the 87 per dollar mark comes ahead of the RBI’s monetary policy review taking place later this week.
However, the part of the rupee’s fall according to market experts stems from US President Donald Trump’s tariffs threats on Canada, Mexico and China.
Trump’s move has sent jitters across markets about potential trade wars.
Rupee has been keep falling in recent times even before Trump announced tariffs.
Opening at 87 at the interbank foreign exchange, the rupee plummeted further to 87.29 against dollar in initial deals.
This reportedly marked a fall of 67 paise from its previous close, The Wire reported citing news agency PTI.
It is reported citing The Indian Express that the rupee has depreciated over 3.6% over the past 10 months.
However, the rupee closed at 87.11 later on Monday marking a plunge of 49 paise from its closing value of 86.62 per dollar on January 31 Friday.