Rupee falls 4 paise to 85.19 against US dollar in early trade
"Concerns of a potential recession driven by the tariff war persist. The US president again repeated his criticism of FED chair Powell and said that the US economy will slow unless interest rates are lowered immediately.
The rupee opened slightly weaker after touching a high of 85.03 on Monday which was almost a month's high with inflows pouring in debt as well as equity, Bhansali said. (Source: Pixabay) Rupee traded in a narrow range and depreciated 4 paise to 85.19 against the US dollar in early trade on Tuesday, as the support from positive domestic equities was negated by dollar short-covering by investors.
Forex traders said concerns persisted over economic headwinds from tariffs and US monetary policy that could dampen demand.
At the interbank foreign exchange, the domestic unit opened at 85.11 then fell to 85.19 against the greenback in early deals, registering a loss of 4 paise over its previous closing level. On Monday, the rupee appreciated 23 paise to settle at 85.15 against the US dollar.
“Concerns of a potential recession driven by the tariff war persist. The US president again repeated his criticism of FED chair Powell and said that the US economy will slow unless interest rates are lowered immediately.
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