The rupee depreciated against the dollar on the money market on Saturday in process of trading, dealers said. The rupee failed to maintain it's value in terms of the dollar, losing 50 paisas for buying and selling at Rs 148.00 and Rs 149.00, they said. The rupee was available against the euro for buying and selling at Rs 163.00 and Rs 167.00, they said.
Taking aim at what he said was a surge of illegal immigrants across the southern border, Trump vowed on Thursday to impose a tariff on all goods coming from Mexico, starting at 5% and ratcheting higher until the flow of people ceases.
The Mexican peso tumbled against the greenback, losing as much as 3.4% at one point, for its steepest single-day loss since October. It was down 2.65% at 19.6485 per dollar.
Trump's surprise duties on Mexican imports "spurred sharp losses in the Mexican peso and a general risk-off move that strengthened the yen," said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC.
Several different currencies have served as safe havens during the global trade conflict, but the yen has consistently been among the strongest this year, and on Friday investors appeared to opt for the Japanese currency.
The yen increased 1.11% at 108.41 per dollar and 0.75% per euro.
For May, the Japanese currency was on track to gain 2.72% against the dollar and 3.15% versus the euro.

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Open Bid       Rs.148.00
Open Offer     Rs.149.00
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