Rupee breaches 72-mark again, down by 81 paise against USD
What's the story
The rupee depreciated 81p to 72.65 against the USD in early trade today at the forex market, despite the government's steps to stem a steep fall in the currency. On Friday, the rupee had gained 34p to close at a one-week high of 71.84 against the USD on positive macro data and hopes of policy intervention by the government to defend the volatile currency.
Details
US could announce new rounds of tariffs on Chinese imports
The foreign exchange market (forex) dealers said the US dollar rose against a basket of major currencies overseas, with investors cautiously awaiting news on the implementation of US tariffs on an additional $200 billion of Chinese imports later today. Meanwhile, the benchmark BSE Sensex tumbled by 295.40 points or 0.78% to trade below the 38,000-mark at 37,795.24 in early trade.