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Rupee trades almost flat at 75.28 against U.S. dollar in opening deals
The Hindu
On the domestic equity market front, the BSE Sensex was trading higher by 525.54 points or 0.86% at 61,831.49; while the broader NSE Nifty was up 166.55 points or 0.91% at 18,505.10
The Indian rupee was trading marginally lower by 2 paise at ₹75.28 against the U.S. dollar in early trade on October 18, tracking stronger greenback against key rivals overseas.
At the interbank forex market, the local unit opened on a steady note and traded cautiously between a high of ₹75.26 and a low of ₹75.29 against the American currency.
On October 14, the rupee had settled at ₹75.26 against the U.S. dollar. Forex market was closed on October 15 for ‘Dussehra’ holiday.
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The U.S. President’s economic and tariff policies and measures to secure his country’s borders may seem justified in terms of promoting his nation’s interests but have wider ramifications not only for Americans themselves, but also for the rest of the world. His tariff proposals will result in supply chain disruptions, lead to market and currency volatility, disrupt capital and trade flows, contribute to inflation and cause a decline in world trade and economic growth, worsening the plight of the poor, especially in developing economies.