Rupee on the ropes

India’s rupee has fallen to an all-time low against the dollar as trade tensions simmer with Washington. Donald Trump has slapped the world’s most populous nation with 50% tariffs, partly in response to New Delhi’s intensive buying of Russian oil. Citigroup thinks the tariffs could shave 0.6-0.8 percentage points from Indian GDP growth. The rupee has declined 4.5% against the greenback over the past 12 months. While that will help India’s exporters to recover some of the international competitiv...