Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.<\/p>\n
U.S. Treasury Secretary Scott Bessent isn\u2019t losing sleep over the Indian Rupee challenging the U.S. Dollar\u2019s dominance as a global reserve currency.<\/p>\n
On Thursday, in a post on X, Shashank Mattoo, an Indian journalist, shared a snippet of Bessent\u2019s recent appearance on Fox Business\u2019 Mornings With Maria.<\/p>\n
During his appearance, host Maria Bartiromo asks Bessent if he worries that India \u201cis going to set trade in the Rupee,\u201d to trade with its BRICS trading partners, instead of the U.S. Dollar, to which he responds, saying, \u201cThere are a lot of things I worry about. The rupee becoming a reserve currency is not one of them.\u201d<\/p>\n<\/p>\n
Trending: Your Last Chance to Invest in Pacaso Before Their Global Expansion \u2014 Offer Ends Sept 18<\/a><\/p>\n Bessent goes on to add that with the ongoing trade tensions between India and the United States, the Rupee is currently \u201cat an all-time low versus the U.S. Dollar.\u201d<\/p>\n The Indian Rupee currently trades at 87.806 against the U.S. Dollar, nearing its all-time low of 87.95, amid ongoing trade and tariff-related tensions.<\/p>\n See Also: Dump Your Financial Advisors. One AI Platform Manages Everything \u2014 With Zero AUM Fees. Book Your Demo Today<\/a>.<\/p>\n As President Donald Trump\u2019s 50% tariffs on India took effect on Wednesday, officials from the two nations continued to hold talks with a virtual 2+2 Intersessional Dialogue on Monday, discussing trade, defense ties and even regional security, among other things.<\/p>\n The tariffs imposed by Trump are expected to hit India\u2019s GDP to the tune of $36 billion, or 0.9% of the nation\u2019s annualized GDP.<\/p>\n They have, however, emerged as tailwinds for certain U.S. companies that no longer have to compete with cheaper Indian imports. This includes apparel companies such as Levi Strauss & Co. (NYSE:LEVI<\/a>) and Tapestry Inc. (NYSE:TPR<\/a>), alongside jewelry retailer Signet Jewelers Ltd. (NYSE:SIG<\/a>), among others.<\/p>\n Story Continues <\/p>\n Photo Courtesy: Maxim Elramsisy on Shutterstock.com<\/p>\n Trending Now:<\/p>\n Building a resilient portfolio means thinking beyond a single asset or market trend. 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This flexibility empowers retirement savers to go beyond traditional stocks and bonds, building diversified portfolios that align with their long-term wealth strategies.<\/p>\n WiserAdvisor makes it easier to find a financial advisor who fits your needs. The platform matches you with vetted professionals based on your goals and investable assets<\/a>, with a focus on those who have at least $100,000 to put to work. By comparing advisors through WiserAdvisor, investors can identify someone who aligns with their risk tolerance, retirement plans, and broader wealth strategy.<\/p>\n For investors concerned about inflation or seeking portfolio protection, American Hartford Gold provides a simple way to buy and hold physical gold and silver within an IRA or direct delivery<\/a>. With a minimum investment of $10,000, the platform caters to those looking to preserve wealth through precious metals while maintaining the option to diversify retirement accounts. It’s a favored choice for conservative investors who want tangible assets that historically hold value during uncertain markets.<\/p>\n This article Scott Bessent Worries About A Lot Of Things But The Indian Rupee Emerging As A BRICS Rival To Dollar Isn’t One Of Them: Here’s Why<\/a> originally appeared on Benzinga.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. 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