The Sino-US trade war has caused the rupee to depreciate to a record low
According to a report by India’s “Business Standard” on June 27, after the United States imposed additional tariffs on Chinese goods, the RMB devalued, and the currencies of several major emerging market countries also devalued to protect their competitive advantages. Yesterday, the rupee closed at 68.63 against the US dollar, approaching its lowest value in history. The lowest value was 68.83 on August 28, 2013.
Since China plays a pivotal role in the international trading system, Taimur, executive director and chief economist of DBS Bank (DBS), said in an interview that the pressure on the RMB will affect the world and the resulting consequences will be unfavorable. Certainty will eventually be reflected in the U.S. dollar, the safe haven currency itself. (Title: The Sino-US trade war has caused the rupee to depreciate to a record low)
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