Rush Hour: Rupee sinks to new low, Congress chief’s remarks on Kumbh spark outcry and more

The Indian rupee has fallen past 87 against the United States dollar, sinking to an all-time low amid a slump in Asian currencies after US President Donald Trump’s new tariffs. The rupee opened at 87 and dropped further to 87.29, a fall of 67 paise from its previous close of 86.62 on Friday.

Trump on Saturday imposed 25% tariffs on goods from Canada and Mexico and 10% on those from China. Canada and Mexico announced retaliatory tariffs. China said it would take countermeasures and challenge the decision at the World Trade Organisation, triggering fears of a larger trade war.

The rupee remains under pressure due to foreign fund outflows and higher US dollar demand from oil importers, according to experts. Foreign institutional investors sold equities valued at $32.6 billion on a gross basis in January, with a net outflow of $7.6 billion.

On Monday, the Chinese yuan also fell 0.5% to 7.35 per US dollar. Read on.

Congress chief Mallikarjun Kharge on Monday paid tribute to the “thousands” who died in the January 29 stampede at the Maha Kumbh pilgrimage site in Uttar Pradesh’s Prayagraj, triggering an uproar in the Rajya Sabha. Officials have said that 30 people were killed and 60 injured, though media reports suggested the toll could be…

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