US TARIFF IMPACT Rupee holds steady and markets stay resilient

The Indian rupee has so far seen no immediate impact from US President Donald Trump's imposition of additional 25 per cent tariff on India.

- BY MANOJ NAIR

The rupee was at 23.86/23.87 to the dirham yesterday, which is more or less unchanged from Wednesday's levels.

As for Indian expats in the UAE, they have been enjoying highly favourable exchange rates to the dirham over the last few days. In the first seven days of August, there has already been higher than average remittances to India. These could have been even higher but many UAE NRIs are on their summer holidays abroad.