Indian Rupee: INR slides as US slaps 26% tariff on India
Indian Rupee is likely to see a stressed movement after US President Donald Trump unveiled a “discounted reciprocal tariff” of 26% on all imports from India as part of punitive measures slapped against 60 countries. Equities are down globally and risk aversion has gone for a toss. INR ended flat around 85.50 per US dollar yesterday and lost around 15 paise today in early moves to quote at 85.65 per US dollar. However, the US dollar index has slipped under 103 mark to test five month low and could offer some support to the INR later on in the day.
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