Mumbai, Aug 5: The rupee revisited its all-time low level and ended with a loss of 22 paise at 87.88 against the US dollar on Tuesday, as risk-off sentiment deepened after US President Donald Trump renewed threats to raise tariffs on Indian goods over New Delhi’s continued purchases of Russian oil.
Forex traders said the rupee is likely to slide further as India-US trade deal uncertainty continues to dent domestic market sentiments.
Moreover, weak equity markets dented investors’ sentiments further. However, the domestic unit pared some of its losses on supposed intervention by the RBI.
A soft US dollar and overnight decline in crude oil prices also cushioned the downside to some extent, they said. (PTI)
