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Indian rupee hits record low amid Trump's tariff plans
Nada Ali Published in Amwal Al Ghad on 10 - 02 - 2025

The Indian rupee hit a record low on Monday due to US President Donald Trump's new tariff announcement, leading to a decline in regional currencies and ongoing portfolio outflows affecting the local unit.
The rupee fell to 87.95 against the US dollar but closed at 87.4750, slightly lower for the day. Central bank intervention, exporters' dollar sales, and profit-taking by speculators helped the currency recover most of its losses.
Most Asian currencies weakened, with the offshore Chinese yuan falling 0.2 per cent to 7.31. The dollar index dipped to 108.2.
Trump plans to unveil 25 per cent tariffs on steel and aluminium imports into the US on Monday, followed by reciprocal tariffs matching other countries' rates on Tuesday or Wednesday.
Attribution: Reuters
Subediting: M. S. Salama

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