Rupee rises 12 paise to close at 87.53 against US dollar

Fri, 01 August 2025

19:55

The rupee appreciated 12 paise to close at 87.53 (provisional) against the US dollar on Friday, on lower crude prices and suspected RBI interventions as US President Donald Trump's sweeping new tariffs triggered fresh concerns over a much wider disruption in the global trade landscape.

Forex traders said the US' imposition of a 25 percent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation.

On Wednesday, Trump announced the 25 percent tariff on India and an additional penalty for New Delhi's purchases from Russia.

While August 1 was the tariff implementation deadline, the new levies will come into effect from August 7.

At the interbank foreign exchange, the domestic unit opened at 87.60 against the greenback, touching an intra-day high of 87.20 against the American currency.

At the end of Friday's trading session, the local unit settled at 87.53 (provisional), up 12 paise over its previous closing price. -- PTI

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