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Mumbai, Aug 26 (PTI) The rupee depreciated 12 paise to close at 87.68 (provisional) against the US dollar on Tuesday, tracking weak domestic markets after the US issued a draft notice on plans to implement an additional 25 per cent tariff on Indian products. Forex traders said the rupee lost momentum as worries over the looming 25 per cent additional US tariff on Indian goods, set to take effect from August 27, drove strong dollar demand from importers. At the interbank foreign exchange market ...Read More >
Trump did not specify what the new tariff would be, but it comes just days after he unveiled a hefty 25% levy on India. In a statement, a spokesman for India's foreign ministry, Randhir Jaiswal, said the US had encouraged India to import Russian gas at the start of the conflict, "for strengthening global energy markets stability". He said India "began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict". India also criticised the US - ...Read More >
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