Mumbai: The Indian Rupee, which showed signs of recovery yesterday, slipped again today, losing 9 paise in early trading. The rupee is currently trading at 87.16 against the US dollar.
The ongoing trade war between the US and China, where both nations have imposed tariffs on each other, continues to influence the rupee’s movement. Yesterday, the rupee briefly bounced back to 87.07 after the US extended its trade restrictions on Canada and Mexico for another month.
In other markets, Brent crude, a major export for India, saw a price dip to $75.82 per barrel, reflecting global trends.
Despite a strong rally in the stock market yesterday, the trend has been mixed today. The BSE Sensex, which surged over 1,000 points, has now turned negative, with prominent stocks such as Reliance, Asian Paints, and Sun Pharma taking a hit.
