Indian Rupee falls to 72.88 versus the US dollar

Indian Rupee falls to 72.88 versus the US dollar
Indian Rupee falls to 72.88 versus the US dollar

Indian Rupee falls to 72.88 versus the US dollar

The rupee has slipped to a new record-low at 72.88 as compared to the US dollar on Wednesday amid renewed global trade war worries.

Rupee was weighed down by rising global crude oil prices as India imports nearly 80 per cent of its fuel needs and a current-account deficit at a five-year high.

The US President Donald Trump warned on Friday that he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on another $267 billion of goods in addition to the $200 billion already facing the risk of duties.

Also Read: Rupee falls to lowest in a year against US dollar

Moreover, US dollar has been consistently performing well this year due to uptick in the economic growth, adding further trouble to other currencies.

-PTC NEWS