Rupee plunges to 87.29 against dollar: What led to the fall, what its impact could be | Explained News
The Indian rupee plunged below the 87 level to an all-time low of 87.29 per dollar on Monday (February 3) as the dollar index surged more than a per cent after US President Donald Trump imposed tariffs on Canada, Mexico and China that triggered fears of a broad global trade war.The dollar index rose 1.24 per cent to trade at Rs 109.84 per cent. The dollar index is a measure of the value of the US dollar relative to a basket of six foreign currencies. The domestic currency had settled...