Rupee hits record low amid global trade war fears
By Pragadish Kirubakaran, Pradeep Damodaran and Neeraja Gopalakrishnan in Media News on Tuesday, 04th February 2025 at 4:23pmView from the Press Rooms/Hot off the Press
India’s currency crisis deepened as the rupee plunged to a historic low of Rs 87.29 against the US dollar, rattling financial markets. The Economic Times’ Rozebud Gonsalves and Hindustan Times’ Gopika Gopakumar reported that the sharp decline follows heightened trade war fears triggered by former US President Donald Trump’s new tariffs. The Indian stock market took a hit, with the Sensex slipping over 800 points as investor sentiment soured.
The latest tariffs imposed by Trump’s administration on Canadian and Mexican goods have escalated trade tensions, sending shockwaves through global markets. Meanwhile, Indian Express’ George Mathew explained that India’s widening trade deficit, coupled with global uncertainty, has further ...
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