News Update – April 7:
The rupee opened 50 paise lower on April 7 at 85.7450 against the US dollar, compared to the previous close of 85.2350, as Asian markets faced a widespread sell-off amid fears that US President Donald Trump’s tariff policies could trigger a global economic slowdown.
Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, attributed the rupee’s decline to heightened risk aversion and “risk-off” sentiment sparked by the Trump administration’s imposition of tariffs without clear justification or negotiation.
“This depreciation presents an opportunity for exporters to sell or hedge at favorable levels, especially given the expected volatility in the dollar/rupee pair, as Trump’s stance may continue to shift unpredictably,” Bhansali noted.
Just days earlier, on April 4, the rupee had strengthened to trade below 85 per dollar—its strongest level in three months—boosted by a weakened US dollar amid global tariff concerns and a dip in Brent crude prices.
(Source)