The dollar rose against a basket of major currencies overseas amid reports that Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing.
The Indian rupee opened lower by 80 paise against US Dollar, even as the government announced several measures to defend the currency. Currently, it is trading at 72.65 per dollar.
On the economy front, the government on Friday announced an array of steps, including removal of withholding tax on Masala bonds, relaxation for foreign portfolio investors and curbs on non-essential imports to contain the widening current account deficit (CAD), which has widened to 2.4% of GDP in April-June, and check the rupee’s fall against the dollar.
The dollar rose against a basket of major currencies overseas amid reports that Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing.
On Friday, the Indian currency ended higher by 34 paise at 71.84/$.
The Indian rupee opened lower by 80 paise against US Dollar, even as the government announced several measures to defend the currency. Currently, it is trading at 72.65 per dollar.
On the economy front, the government on Friday announced an array of steps, including removal of withholding tax on Masala bonds, relaxation for foreign portfolio investors and curbs on non-essential imports to contain the widening current account deficit (CAD), which has widened to 2.4% of GDP in April-June, and check the rupee’s fall against the dollar.
The dollar rose against a basket of major currencies overseas amid reports that Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing.
On Friday, the Indian currency ended higher by 34 paise at 71.84/$.
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