Indian Rupee Falls To 4-day Low Against U.S. Dollar
September 01 2019 - 8:59PM
RTTF2
The Indian rupee declined against the U.S. dollar in the morning
session on Monday. The U.S.-China trade conflict escalated after a
new round of tariffs on each other's exports took effect over the
weekend.
U.S. tariffs on about $112 billion worth of Chinese imports went
into effect on Sunday, while China started to impose retaliatory
tariffs on some of the $75 billion worth of U.S. goods it has
targeted.
The Indian rupee declined to a 4-day low of 71.89 against the
greenback. If the rupee slides further, 74.00 is likely seen as its
next support level.
Indian stock markets remained closed on account of Ganesh
Chaturthi. They will resume trading on Tuesday.
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