The Indian rupee opened 0.18 paise weaker in opposition to the US greenback at 85.57 on Monday, in comparison with its earlier shut of 85.39 on Friday.
The native forex is buying and selling decrease after US President Donald Trump on Monday threatened to impose a ten% unilateral tariff on BRICS nations for what he referred to as “anti-American insurance policies”.
“Any nation aligning themselves with the Anti-American insurance policies of BRICS, might be charged an ADDITIONAL 10% Tariff. There might be no exceptions to this coverage. Thanks to your consideration to this matter!” Trump posted on Reality Social.
BRICS is an intergovernmental organisation of 10 nations — Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. A leaders’ summit is underway in Brazil’s Rio De Janerio.
The group of creating nations are poised to undertake a place at odds with Trump on commerce tariffs, battle within the Center East and world arms spending.
