Indian Rupee slumps to over two-week low as US tariffs loom large
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The Indian Rupee slides to an over two-week low of around 87.95 against the US Dollar. Indian exports to the US are set to face 50% tariffs from Wednesday. The removal of Fed’s Cook by US President Trump has dampened its independence. The Indian Rupee (INR) declines to an over two-week low of around 87.95 against the US Dollar (USD) on Tuesday. The USD/INR pair extends its upside as the Indian Rupee faces selling pressure due to looming tariffs imposed by the United States (US) on imports from India, which will come into effect on Wednesday. US Homeland Security confirmed in early trade on Tuesday that Washington will impose an additional 25% tariff on all Indian-origin goods from Wednesday, Reuters reported. The agency added that the new duties will apply to goods entering the U.S. for consumption or withdrawn from a warehouse for consumption from 12:01 AM EDT on Wednesday or 9:31 PM IST. The imports from New Delhi to Washington are facing one of the highest tariffs among US trading partners for buying Oil from Russia. US President Donald Trump warned India that he would penalize India by increasing additional duties if it continued to buy Russian Oil. Trump increased reciprocal tariffs on India to 50%. The imposition of higher levies on Indian exports to the US has dampened the competitiveness of Indian products in the global market. The impact of looming tariffs is also visible on Indian equity markets, which have fallen like a house of cards right from the first tick on Tuesday. At the time of writing, Nifty50 is down 0.75% to near 24,770. Additionally, the continuous outflow of foreign investment in the Indian stock market has also battered the Indian Rupee. So far in August, Foreign Institutional Investors (FIIs) have sold Indian equities worth Rs. 28,217.26 crores. FIIs…
Filed under: News - @ August 26, 2025 8:26 am