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Indian rupee opens at 87.72/$ against US dollar
The Indian rupee barely budged on Thursday, opening at 87.7275 per US dollar—even after President Trump slapped a 25% tariff on Indian exports and warned of possible sanctions over India's oil trade with Russia.
The move, signed into action on August 6, highlights the US's tougher stance in global trade.
Rupee is holding its ground between support and resistance
Kunal Sodhani from Shinhan Bank shared that the rupee is holding its ground between support at 87.50 and resistance at 87.95.
At a White House briefing, Trump said these steps are about national security due to India buying Russian oil, and he even suggested China could face similar measures soon.
All this points to rising global trade tensions that could ripple through international markets.