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Rupee rises 12 paise to close at 87.53 against US dollar

Mumbai, Aug 1 (PTI) The rupee appreciated 12 paise to close at 87.53 (provisional) against the US dollar on Friday, on lower crude prices and suspected RBI interventions as US President Donald Trump’s sweeping new tariffs triggered fresh concerns over a much wider disruption in the global trade landscape. Forex traders said the US’ imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation. On Wednesday, Trump announced the 25 per cent tariff on India and an additional penalty for New Delhi’s purchases from Russia. While August 1 was the

Markets extend losses on global sell-off amid US tariff concerns; Sensex tanks 586 points

Mumbai, Aug 1 (PTI) Equity benchmark indices Sensex and Nifty declined sharply for the second straight session on Friday, tracking deep losses in metal, IT and telecom stocks amid trade-related concerns and widespread selling pressure in global markets. Besides, persistent selling by foreign investors added to the gloom, according to experts. In a volatile trade, the 30-share BSE Sensex tumbled 585.67 points or 0.72 per cent to settle at 80,599.91. During the day, it dropped 690.01 points or 0.84 per cent to 80,495.57. The 50-share NSE Nifty declined 203 points or 0.82 per cent to 24,565.35. US President Donald Trump

India cannot remain ‘mute spectator’ as Trump destroys institutions like WTO: Congress

New Delhi, Aug 1 (PTI) The Congress on Friday asserted that India has the highest stakes in institutions such as the WTO and WHO, which are being “destroyed” and “gutted” by US President Donald Trump, and cannot remain a mute spectator while being content with coining slogans and acronyms. Congress general secretary in-charge of communications Jairam Ramesh said the World Trade Organisation (WTO) had been dealt very heavy blows during Trump-I. “It has been destroyed during Trump-II. The rules-based, multilateral trading system put in place with the US itself playing a leadership role has been finished off,” Ramesh claimed. The

Rupee rises 40 paise to 87.25 against US dollar in early trade

Mumbai, Aug 1 (PTI) The rupee appreciated 40 paise to 87.25 against the US dollar in early trade on Friday, amid lower crude prices and suspected RBI interventions as the US’s imposition of a 25 per cent tariff on Indian exports heightened investors’ concerns. Forex traders said the US’s imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation. Moreover, investors are focussed on US President Donald Trump’s imposition of new, and mostly higher tariffs on US trading partners beginning August 1. At the interbank foreign exchange market, the rupee

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