The rupee’s fall comes at a time when it has already become Asia’s worst-performing currency of the year and as the RBI tries to build up its forex reserves. The rupee plunged 44 paise to hit an all-time low of 87.94 against the US dollar in early trade on Monday. This comes at a time when the rupee has already become Asia’s worst-performing currency of the year after experiencing a series of record lows, according to a Bloomberg report which cited brokerage firm Nomura. Why did the rupee fall? The rupee’s…
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Rupee Hits All-Time Low of 87.29 Against USD as Trump Tariffs Spark Trade War Concerns
Rupee hits record low of 87.29 against US dollar in early trade as Trump tariffs stoke trade war fears; US President Donald Trump had slapped Canada and Mexico with 25% duties and China with a 10% duty The rupee fell by 67 paise to hit record low of 87.29 against the US dollar in early trade on Monday, February 3, 2025, a day after US President Donald Trump’s tariffs on Canada, Mexico and China that triggered fears of a broad trade war. At the interbank foreign exchange, the rupee opened…
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