Rupee Closes 4 Paise Stronger Against US Dollar
The local currency closed 4 paise stronger at 87.66 against the greenback compared to the previous close at 87.70.
The Indian Rupee closed stronger against the US Dollar on Friday unbothered by additional 25% tariff by United States President Donald Trump on India for the purchase of Russian crude oil on Wednesday.
The local currency closed 4 paise stronger at 87.66 against the greenback compared to the previous close at 87.70. The rupee opened 14 paise stronger at 87.56 against the dollar on Friday.
Going ahead, the rupee movement will be largely dictated by developments on the tariff front, said Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities.
"Despite the marginal uptick, the broader trend remains weak due to ongoing US-imposed tariffs on Indian goods, which have weighed heavily on the rupee over the past four months, causing it to slide from 84.50 to 87.70," he said.
