On Tuesday today, in early trade, the rupee fell four paisa to all-time low of 84.76 against the US dollar. The strength of the American currency in the overseas market and unabated foreign portfolio outflows dented investor sentiments.
Forex traders said the depreciation in rupee was largely on the back of Donald Trump’s rhetoric on BRICs currency, political instability in the Eurozone, weaker domestic macroeconomic indicators and unabated foreign portfolio outflows.
President-elect Donald Trump on Saturday threatened a 100 per cent tariff on the BRIC bloc of nations if they act to undermine the US dollar.
