India Rupee Falls For 2nd Day As Peers Slip On US-China Woes

India Rupee Falls For 2nd Day As Peers Slip On US-China Woes

04 Jun 2020 02:36 PM
 

The Indian rupee fell for a second day against the dollar, tracking losses on the Chinese yuan and other Asian currencies after the U.S. banned Chinese passenger flights.

The rupee was at 75.58 to the dollar at 2:00 p.m. compared with 75.46 yesterday.

The onshore yuan and other Asian currencies were trading lower amid brewing tensions between the U.S. and China. Adding further to worries on the U.S.-China front, Washington is likely to designate at least four additional state-run Chinese media outlets as foreign embassies, raising curbs on their operations in the U.S., Reuters reported, citing people familiar with the matter.

India’s benchmark BSE Sensex fell 0.6%, extending opening losses. Virus cases in the country have risen to nearly 217,000 so far with over 6,000 deaths. India saw its biggest jump in daily coronavirus cases with 9,304 people testing positive in the last 24 hours.