Mumbai: The rupee depreciated by 8 paise to 65.19 against the US dollar in early
trade today on sharp losses in global equity markets after US President
Donald Trump imposed USD 60 billion of tariffs on Chinese imports.
Trump yesterday directed the US trade representative to level tariffs
on about USD 60 billion worth of Chinese imports after a seven-month
investigation into the intellectual property theft, which has been a
longstanding point of contention in US-China trade relations.
Yesterday, the rupee had ended 10 paise higher to close at 65.11 against
the US currency on foreign fund inflows after the US Federal Reserve
stuck to its outlook of three rate hikes this year.
Meanwhile,
on a net basis, foreign institutional investors (FIIs) bought shares
worth Rs 161.11 crore, while domestic institutional investors (DIIs)
made purchases worth Rs 409.89 crore yesterday, provisional data showed.
The benchmark BSE Sensex cracked below the 33,000-mark by plunging
471.44 points, or 1.42 per cent, to 32,534.83, while the broader NSE
Nifty dipped below the 10,000 in opening trade.
PTI
