Mumbai: The Indian rupee declined sharply against the US dollar in early trade on Thursday after the latest tariff announcements from the US weighed on emerging currencies, including the rupee. Forex traders said the latest tariff announcements from the US have sent shockwaves through global markets, strengthening the dollar.
At the interbank foreign exchange, the Indian rupee opened at 87.26, then fell to 87.41 against the American currency, registering a decline of 22 paise over its previous close. On Tuesday, the rupee fell sharply by 47 paise to settle at 87.19 against the US dollar. On Wednesday, equity, forex, commodity markets were closed on account of Mahashivratri.
Also Read: Ramadan 2025: UAE President orders release of over 1,200 prisoners
Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was at 106.62, higher by 0.19 per cent. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,529.10 crore in the Indian capital markets on net basis on Tuesday.
Post Your Comments