India, Aug. 7 -- The rupee appreciated by 5 paise to 87.67 against the US dollar in early trade on Thursday, despite trading within a narrow range, after US President Donald Trump announced an additional 25% tariff on Indian goods—doubling the total duty to 50%—in response to India's continued import of Russian oil.
Forex analysts noted that Trump's move, set to take effect in 21 days, could make select Indian exports among the most heavily taxed imports into the US globally.
At the interbank foreign exchange, the rupee opened at 87.69 against the dollar and touched an early high of 87.67, up 5 paise from its previous close.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....