Rupee Plunges to Historic Low as Trump Tariffs Rattle Global Markets

The Indian rupee plummeted to an unprecedented 87.29 against the US dollar on Monday, February 3, 2025, as President Trump's sweeping tariffs on Canada, Mexico, and China sent shockwaves through global markets. This sharp depreciation, triggered by fears of an escalating trade war, has raised concerns about import costs, inflation, and economic growth in India. The rupee's fall is expected to impact various sectors, potentially benefiting exporters while putting pressure on import-dependent industries and foreign debt-laden companies. Investors are closely watching for potential interventions by the Reserve Bank of India to stabilize the currency.
Source: The Indian Express