Rupee depreciated by 15 paise against US dollar

Mumbai, Nov 27: The value of rupee against the US dollar has again depreciated by 15 paise today at the interbank foreign exchange. The probable reason to be traced is Trump’s suggestion in the tariff hike on Chinese imports. The rupee on Monday had fallen by 18 paise to close at 70.87 per dollar. However, today the value of one dollar counts to Rs. 71.02.

On Monday, Trump seemed to repeal hopes of a trade peace with China by saying that he expects to move ahead with raising tariffs on $200 billion in Chinese imports to 25 per cent from 10 per cent currently. The trade war between the two powerful nations, China and USA have introduced tariffs on goods traded between each other. China, with other Asian currencies after Trump Monday said that for any trade deal China has to treat his country "fairly". "Here's what the bottom line is: China has to treat us fairly. They haven't been. They have to treat us fairly," Trump told reporters at the White House.

The Reserve Bank of India partially eased a requirement for companies to guard dollars while raising funds from overseas markets. This move will encourage companies to raise funds offshore and reduce demand for dollars in the domestic market.

Meanwhile, the 30-share Sensex was trading 27.28 points, or 0.08 per cent, lower at 35,326.80. The NSE Nifty too witnessed similar movement, and was trading 18.70 points, or 0.18 per cent, lower at 10,609.90, reported PTI.