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Rupee hits record lows; closes at 87.18/dollar despite RBI support
The New Indian Express Mangaluru
|February 04, 2025
AFTER hitting a record low of 87.29 in opening trade, rupee closed on Monday at 87.185 to dollar after US president Donald Trump slapped punitive tariffs on imports from China, Mexico and Canada, its largest trading partners, stoking fears of a trade war that rattled global financial markets.
The rupee has lost more than 4% since October when it was trading above 83.70 despite the Reserve Bank selling billions of dollars to defend it.
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