- The Indian rupee opened 14 paise stronger at 87.56 against the US dollar on Friday
- The US imposed an additional 25% tariff on India for Russian crude oil purchases
- The rupee's immediate trading range is expected between 87.40 and 88.15
The Indian rupee strengthened at the open 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 opened 14 paise stronger at 87.56 against the US dollar on Friday compared to its closing at 87.70 against a dollar on Thursday.
The immediate trading range is seen between 87.40 and 88.15, said Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities.
Going ahead, rupee movement will be largely dictated by developments on the tariff front, said Trivedi. "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.
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