The Indian rupee plunged 39 paise to close at an all-time low of 87.46 (provisional) against the US dollar on Wednesday, as global trade war concerns fuelled risk aversion among investors. Domestic equities also ended slightly lower on Wednesday after rallying sharply the previous day on easing tariff concerns and expectations of a rate cut by the RBI later this week, which will be the first RBI policy under the new Governor Sanjay Malhotra. U.S.-China trade tensions remained on investors' radar after the United States Postal Service (USPS) announced a temporary suspension of international package acceptance from China and Hong Kong. The benchmark S&P/BSE Sensex ended the session down 312.53 points, or 0.40 percent, at 78,271.28, giving up early gains. The broader NSE Nifty index fell 42.95 points, or 0.18 percent, to 23,696.30, with falling crude oil prices in the international markets helping limit the downside.
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