Rupee trades in narrow range against US dollar
NEW DELHI [Maha Media]: Rupee opened on a flat note and rose just 2 paise from its all-time low level to 84.58 against the US dollar in morning trade on Monday, on disappointing macroeconomic data and a negative trend in domestic equities.
Forex traders said Asian currencies like CNH, KRW and IDR were down after Trump Rhetoric on BRICs currency. Besides, the broad strength of the American currency and unabated foreign portfolio outflows further dented investor sentiments.
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.