NEW DELHI – Indian rupee faces yet another historic low against US Dollarand other currencies.
It depreciated 81 paise to 72.65 against the dollar on Monday at the forexmarket.
The fall was noticed despite the government’s steps to stem a steep fall inthe currency, amid reports that the US could announce a new round oftariffs on Chinese imports later in the day.
Against the UAE dirham, the rupee was trading at 19.77 at 9:30am (UAE time).
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The dollar rose against a basket of major currencies overseas, withinvestors cautiously awaiting news on the implementation of US tariffs onan additional $200 billion of Chinese imports, forex dealers said.
On Friday, the rupee had gained 34 paise to close at a one-week high of71.84 against the US dollar on positive macro data and hopes of policyintervention by the government to defend the volatile currency
