The rupee opened marginally lower by 9 paise to 71.03 against the US dollar in opening trade on Monday, as rising crude oil prices and concerns regarding US-China trade war kept investors edgy.<\/p>\n\n\n\n
Forex traders said reports that the US is likely to ramp up pressure on China by raising existing tariffs if a trade deal is not reached soon between the two countries, weighed on the domestic currency.<\/p>\n\n\n\n
Michael Pillsbury, adviser to the White House on China policy, said that Trump would likely escalate the trade war by raising existing tariffs, if no deal is reached.<\/p>\n\n\n\n
In an interview in Hong Kong on Thursday, Pillsbury said that Trump had been \u201cremarkably restrained in the pressure he has brought to bear on China in the trade field\u201d.<\/p>\n\n\n\n
At the interbank forex market the rupee opened weak at 71.03 , down 9 paise over its last close.The local unit however pared the initial loss and was trading flat at 70.94 against the US dollar at 1012 hours.<\/p>\n\n\n\n
Brent crude futures, the global oil benchmark, rose 1.04 per cent to USD 64.95 per barrel.Meanwhile, foreign fund inflows, weakening of the American currency vis-a-vis other currencies overseas and higher opening in domestic equity market supported the domestic currency.<\/p>\n\n\n\n
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04 per cent to 98.47.Foreign institutional investors remained net buyers in the capital markets, putting in Rs 35.78 crore on Friday, as per provisional data.<\/p>\n","protected":false},"excerpt":{"rendered":"
The rupee opened marginally lower by 9 paise to 71.03 against the US dollar in opening trade on Monday, as rising crude oil prices and concerns regarding US-China trade war kept investors edgy. Forex traders said reports that the US is likely to ramp up pressure on China by raising existing tariffs if a trade […]<\/p>\n","protected":false},"author":1,"featured_media":70991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-70990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/70990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=70990"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/70990\/revisions"}],"predecessor-version":[{"id":70992,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/70990\/revisions\/70992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/70991"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=70990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=70990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=70990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}