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The greenback index, which gauges the buck’s energy towards a basket of six currencies, rose marginally 0.04% to 98.81. File | Photo Credit: Reuters
Forex merchants mentioned the Indian rupee was beneath stress and will proceed to stay beneath stress throughout this week after Mr. Trump mentioned he might announce larger tariffs for India for persevering with to purchase Russian oil.
In a recent commerce risk towards India, Mr. Trump on Monday (August 4, 2025) mentioned he’ll “considerably” elevate U.S. tariffs on New Delhi, accusing it of shopping for huge quantities of Russian oil and promoting it for giant income.
On August 1, Mr. Trump signed an Executive Order titled ‘Further Modifying The Reciprocal Tariff Rates’, elevating tariffs for over 5 dozen nations, together with a steep 25% for India.
At the interbank overseas change market, the rupee opened on a weak notice a tad above the delicate 88 per U.S. greenback stage at 87.95 towards the American foreign money, registering a decline of 29 paise over its earlier shut.
On Monday (August 4, 2025), the rupee depreciated 48 paise to shut at 87.66 towards the U.S. greenback.
The rupee has touched a report intra-day low of 87.95 on February 10, 2025.
Last week, Mr. Trump mounted a pointy assault on India and Russia for his or her shut ties and mentioned the 2 nations can take their “lifeless economies down collectively”, a comment which prompted New Delhi to say that India is the world’s fastest-growing main economic system.
Mr. Trump had earlier introduced a 25% tariff on imports of Indian items together with an unspecified “penalty” for getting the “overwhelming majority” of Russian navy gear and crude oil.
Meanwhile, Brent crude costs fell 0.28% to $68.57 per barrel in futures commerce, after OPEC+ agreed to hike one other giant output improve in September, including to oversupply considerations after U.S. information confirmed lacklustre gas demand.
The greenback index, which gauges the buck’s energy towards a basket of six currencies, rose marginally 0.04% to 98.81.
“The greenback may from right here go to a broader downtrend given U.S. policy-making uncertainty and an economic system that’s lastly exhibiting the cracks,” Mr. Bhansali mentioned.
Meanwhile, traders stay cautious forward of the RBI financial coverage determination this week.
The RBI Governor Sanjay Malhotra-headed rate-setting panel on Monday (August 4, 2025) began the three-day deliberations to determine the following bi-monthly financial coverage.
The six-member Monetary Policy Committee (MPC) is scheduled to announce the following bi-monthly coverage charge on Wednesday (August 6, 2025).
In the home fairness market, Sensex declined 200.40 factors or 0.25% to 80,818.32, whereas Nifty fell 58.90 factors or 0.24% to 24,663.80.
Foreign institutional traders (FIIs) offloaded equities price ₹2,566.51 crore on a web foundation on Monday (August 4, 2025), in accordance with change information.
Published – August 05, 2025 11:12 am IST
