The rupee on Monday fell by 18 paise to close at 69.40 against the US dollar as renewed trade war worries following US President Donald Trump’s threat to raise tariffs on Chinese imports sent markets into a tailspin and triggered flight of capital to safe bets.
Foreign investors were net sellers in capital markets on Monday selling assets worth Rs 948 crore on a net basis, provisional exchange data showed.
The rupee opened weak at 69.38 and fell further to the day’s low of 69.46 at interbank forex market. The local currency, however, pared losses to close at 69.40, down 18 paise from the previous close.
The rupee had strengthened by 15 paise to close at 69.22 against the US dollar on Friday.