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Rupee plunges to 87.43 on US tariff woes, rising crude
July 31, 2025
|The New Indian Express Kannur
THE rupee, holding steady since March, has started revisiting the weaker terrains once again as sentiment soured following the imposition of higher-than-expected tariff by the US and a surge in oil prices in the backdrop of the looming August 1 tariff deadline.
The rupee plunged 0.72% at close to 87.43, the lowest since February 28.
The rupee got jittery on Wednesday after US President Donald Trump said Indian goods will face a higher tariff of 25%. "India has charged basically more tariffs than almost any other country and you just can't do that," Trump added.
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