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Rupee tumbles against the dollar on trade war fears
Hindustan Times Lucknow
|February 04, 2025
Rupee tumbled to a record low on Monday as US President Donald Trump's tariffs on Canada, Mexico and China, and threats of higher levies on the European Union triggered fears of a broad trade war.
MUMBAI: Both Canada and Mexico have vowed to hit back with retaliatory tariffs.
Rupee fell to 87.28 per dollar before closing at 87.1850, down by nearly 0.7%, its biggest single-day percentage loss since 13 January. The fall was in line with other global currencies which fell against the greenback.
The dollar index, which measures the dollar against a basket of six currencies, opened at 109.29 on Monday, up 0.9 against 108.37 on Friday.
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