Rupee falls 55 paise to breach 87 level against dollar as Trump tariff triggers trade war fears
The Hindu
Rupee hits all-time low against dollar due to Trump tariffs, global market fears, while RBI manages volatility.
The rupee plunged 55 paise to close at an all-time low of 87.17 (provisional) against the U.S. dollar on Monday (February 3, 2025), as global market sentiments were impacted after the Trump administration slapped tariffs on Canada, Mexico and China.
Forex traders said the Indian rupee touched a fresh all-time low on a surge in the U.S. Dollar index and weak global markets after Trump Tariffs on Canada Mexico, and China triggered fears of a broad trade war.
Donald Trump slapped Canada and Mexico with 25% duties and China with a 10% duty.
At the interbank foreign exchange, the rupee opened on a weak note at 87.00 and touched an intraday low of 87.29 against the American currency during the session.
The local unit finally settled at a record closing low of 87.17 (provisional), lower by 55 paise over its previous close.
On Friday, the rupee settled flat at 86.62 against the American currency.
"We expect the rupee to trade with negative bias on strong US Dollar and FII outflows amid a weak trend in the domestic markets. Worries over tariffs by the US administration may also pressurise the rupee," said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
Rupee weakens past 87 per U.S. dollar as Trump imposes tariffs, Asian currencies slump, dollar index rises.
Budget misses opportunity to increase public health funding, impacting primary care and health system resilience. Prioritize public health for economic growth.
India reconsiders cryptocurrency stance amid global shifts, delays discussion paper publication, following U.S. President Trump's crypto-friendly policies.
Trump tariff war: India has prepared fact-sheet for American diplomats on tariffs on key U.S. products, officials say; import duties on top 30 items from U.S. are all below 7.5%
Finance Secretary Pandey explains the government's decision to slash income tax to boost economy and address slowdown concerns.
NMDC's iron ore production rises in January, setting stage for growth-oriented targets and renewable energy exploration.
JBM Auto poised to benefit from Union Budget's focus on electric tarmac coaches and EV battery production incentives.
MGNREGA faces budget cuts, leading to fewer workdays, delayed payments, and neglect of rural workforce by the government.
Labour Ministry receives record allocation in Union Budget to focus on new employment generation scheme, social security for gig workers.
Union Budget allocates ₹903 crore to Lok Sabha and ₹413 crore to Rajya Sabha, with specific salary and allowance provisions.
APCC president criticizes Centre for unfair budget allocations, highlighting discrimination against Andhra Pradesh by PM Modi.
Congress criticizes government's inadequate steps for gig workers, calling for national legal and social security framework.
Volkswagen challenges India's $1.4 billion tax demand, citing compliance with import rules and investment risks.
Union Finance Minister Nirmala Sitharaman defends Indian rupee stability against U.S. dollar, citing strong macroeconomic fundamentals amid criticism.
Finance Minister Nirmala Sitharaman addresses middle class concerns in Union Budget, with PM Modi's support for tax cuts.
Opposition in Maharashtra criticizes Union Budget as 'Bihar budget', while ruling party hails it as revolutionary for rural India.
Rajasthan CM praises 2025-26 Union Budget for balanced development, while Congress criticizes neglect of state projects and issues.
Madhya Pradesh CM praises Union Budget 2025 for special provisions for poor, women, youth, farmers, start-ups, innovation, and AI.