Rupee opens at record low of 87.92 against US dollar as Asian currencies slip on Donald Trump’s new tariff plan
1 month, 2 weeks ago

Rupee opens at record low of 87.92 against US dollar as Asian currencies slip on Donald Trump’s new tariff plan

Live Mint  

The Indian rupee opened at a record low on Monday, tracking losses in Asian currencies after US President Donald Trump said he will introduce more tariffs. The rupee slipped 49 paise to open at an all-time low of 87.92 against the US dollar as against its Friday’s close of 87.43 per USD. “The rupee is expected to trade at elevated levels 87.50-88.20 in the near term, with 87.50 as a key support level, balancing global uncertainties with domestic policy shifts,” said Amit Pabari, MD, CR Forex Advisors. On Friday, Foreign institutional investors net sold Indian shares worth ₹470.39 crore, while Domestic Institutional Investors net purchased shares to the tune of ₹454.20 crore, as per provisional data available on the exchanges.

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