Indian rupee opens 4 paise down at 86.5775 against US dollar

Indian rupee opens 4 paise down at 86.5775 against US dollar

Indian rupee opened 4 paise down on January 29, falling for the second consecutive day.

The local currency at 86.5775 against the US dollar, as compared to 86.5313 ay close in the previous trading session at close on the previous trading session.

On January 28, Indian rupee depreciated 25 paise to close at 86.53 against after tariff threats by the US President Donald Trump has dampened the risk sentiments globally.

US President Donald Trump on January 28 called India, China and Brazil a “tremendous tariff-makers”, which his newly inaugurated government will not allow any further to put “America first”.

Significantly, Trump's comments come a day after the US President spoke with Prime Minister Narendra Modi in a telephonic conversation and reiterated their shared commitment to work for global peace and stability. It's unclear if the two top leaders discussed the imposition of tariffs on Indian goods.

The US President reiterated his position and said he will introduce tariffs for nations that harm the US, especially for the three BRICS nations, who Trump pointed out are acting in their “best interests”.