The rupee on Monday fell 45 paise to a record low of 87.95 against the US dollar in early trade.
रुपया ऐतिहासिक गिरावट पर! 45 पैसे टूटकर 87.95 रुपये प्रति डॉलर पहुंचा
The rupee fell 45 paise to a record low of 87.95 against the US dollar in early trade on Monday amid a strong US currency in overseas markets and a negative trend in domestic equity markets.
Forex traders said the dollar index rose to 108 after US President Donald Trump announced a new 25 per cent duty on all steel and aluminium imports.
They said the move has raised concerns about a global trade war as China’s reciprocal tariffs have also come into effect.
The rupee opened at 87.94 per dollar in the interbank foreign exchange market and slipped to an all-time low of 87.95 against the dollar in early trade, showing a decline of 45 paise from its previous close.
The rupee had closed at 87.50 against the US dollar on Friday.
Meanwhile, the dollar index, which gauges the US dollar’s position against a basket of six major currencies, rose 0.22 per cent to 108.28.
International benchmark Brent crude rose 0.63 per cent to $75.13 per barrel.
According to stock market data, foreign institutional investors (FIIs) were sellers on Friday and sold shares worth a net Rs 470.39 crore.
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