Dollar Closed at 73.6750 against its open of 73.54. Indian Rupee weakened marginally against the US dollar, tracking mixed Asian currencies. Investors shunned riskier assets and moved to buy the greenback after Washington is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between U.S. President Donald Trump and Chinese President Xi Jinping fail to ease the trade war. Trump and his Chinese counterpart are due to meet on the sidelines of the Group of 20 leaders summit in Argentina at the end of November.
Investors are concerned that corporate earnings may peak this quarter as borrowing costs rise with the U.S. Federal Reserve expected to raise interest rates by 25 basis points in December, followed by another two possible hikes in 2019.
Sensex ends 750 points lower, PSU banks drag Nifty below 10,250