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₹ surges most in 6 weeks on tariff-relief bets
Business Standard
|August 20, 2025
The rupee extended its rally on Tuesday, logging the steepest single-day gain since July 3, amid optimism the US may ease its stance on the punitive tariff on Indian goods, after American President Donald Trump's meetings with the Russian and Ukrainian leaders.
The US had imposed an extra 25 per cent duty on Indian goods, effective August 28, citing New Delhi's continued purchase of discounted Russian oil.
The rupee advanced 0.45 per cent to settle at 86.96 per dollar, the strongest since July 29, compared with its previous close of 87.35.
Sentiment was also buoyed by the central government's proposal to simplify and cut GST rates by scrapping the 12 per cent and 28 per cent slabs, alongside S&P Global's upgrade of India's sovereign credit rating to 'BBB' from 'BBB-'.
The moves helped the currency strengthen 0.7 per cent over the past two sessions.
Diese Geschichte stammt aus der August 20, 2025-Ausgabe von Business Standard.
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