Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Tracking Yuan, Rupee Declines Further; Importers Stock Up on Dollars
Business Standard
|April 09, 2025
The rupee depreciated further on Tuesday, tracking the weakness in the yuan, amid dollar demand by importers, said dealers.
Foreign portfolio investors (FPIs), who have shifted back to a selling position in Indian equities, contributed significantly to the dollar demand.
The rupee fell by 0.5 per cent to settle at 86.26 per dollar, against the previous close of 85.86 per dollar. The Indian unit had weakened 0.7 per cent on Monday.
US President Donald Trump's recent threat of imposing a 50 per cent tariff on Chinese imports has escalated trade tensions between the US and China. Such threats amplify uncertainty in global markets, weighing on investor sentiment and leading to a flight to safety, further strengthening the US dollar. The Chinese Yuan fell to 7.35, a psychologically crucial level, said dealers. Yuan fell to its lowest level since September 2023 after indications that the Chinese central bank will be more tolerant of weak currency to counter the impact of the tariff.
This story is from the April 09, 2025 edition of Business Standard.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business Standard
Business Standard
Women are falling in love with AI chatbots. It’s a problem for Beijing
Phoebe Zhang has gone on more than 200 dates over the past year, and she has narrowed down her suitors to two. Often, she takes screenshots of their conversations to remember the moments they share.
3 mins
February 27, 2026
Business Standard
Six OEMs meeting targets makes BEE rethink CO2 norms
India’s top six carmakers have been able to meet their targets on carbon-dioxide emission under the norms of Corporate Average Fuel Efficiency-2 (CAFE-2) for 2023-24 (FY24) as well as FY25, leading to the Bureau of Energy Efficiency (BEE) considering tougher goals under the upcoming CAFE-3 regime, Business Standard has learnt.
2 mins
February 27, 2026
Business Standard
New smartphone PLI may be linked to value addition
Existing scheme with incentives only for output ends on March 31
2 mins
February 27, 2026
Business Standard
Social media platforms must take responsibility for content: Vaishnaw
Social media and internet intermediaries must take responsibility for the content hosted on their platforms to make them safer for children, women, and other online users, Union Electronics, Information Technology and Information and Broadcasting Minister Ashwini Vaishnaw said on Thursday.
2 mins
February 27, 2026
Business Standard
Time, space, experience
An excursion to the White Continent or a secret ski party, travel diaries now seek the exotic, writes Akshara Srivastava
4 mins
February 27, 2026
Business Standard
Threat to large IT firms 'overblown': Cognizant's AI chief
Fears that new artificial intelligence tools could replace large IT services firms are ‘overblown’ as clients still need help deploying and scaling the technology, Babak Hodijat, chief AI officer at Cognizant, told Reuters in an interview.
1 min
February 27, 2026
Business Standard
'US imports' impact on animal feed mkt speculative'
Cargill opened its largest dairy feed plant in Punjab’s Wazirabad
3 mins
February 27, 2026
Business Standard
Info Edge launches new growth-stage fund with %250 crore corpus
Info Edge on Thursday announced the launch of a ₹250 crore growth-stage fund as it looks to deepen its investment footprint in India’s startup ecosystem.
1 min
February 27, 2026
Business Standard
Lutnick meets Goyal, holds 'highly productive' trade talks
US Commerce Secretary Howard Lutnick on Thursday made a surprise visit to Delhi and held “highly productive” discussions with India’s Commerce and Industry Minister Piyush Goyal, days after the US Supreme Court overturned the sweeping tariffs imposed by President Donald Trump.
2 mins
February 27, 2026
Business Standard
RBI gives compliance breather for small-merchant UPI transactions
The Reserve Bank of India's (RBI's) latest clarification on Unified Payments Interface (UPI) transactions is set to bring relief to fintech players, such as PhonePe and Paytm, particularly those with deep merchant-acquiring networks in the unorganised retail segment.
2 mins
February 27, 2026
Listen
Translate
Change font size