India, Aug. 7 -- The Indian rupee strengthened against the U.S. dollar in the Asian session on Thursday, as the monetary policy outlook from the Reserve Bank of India (RBI) helped the Indian currency amid rising trade tensions with the United States (US).
U.S. President Donald Trump signed an executive order imposing an additional 25 percent tariff on India as a "penalty" in response to its continued purchase of Russian oil.
While the initial 25 percent duty comes into effect today, the additional U.S. import tax will take effect in 21 days.
On Wednesday, U.S. President Donald Trump raised the import duty on goods from India to 50%, a decision that investors had already expected since he indicated on Tuesday that he would further increas...