Rupee strengthens against dollar amid Trump’s reciprocal tariffs
The Indian rupee witnessed sharp gains on Friday at below 85 against dollar, as the dollar index and oil prices dropped sharply amid concerns over recession in the US economy after the reciprocal tariffs were announced.It is for the first time since December 2024 when rupee traded below 85 against dollar. At the beginning of the trading session, the rupee opened at 85.04 and in the early trade, it stood at 84.99, almost 40 paise up from the previous close of 85.44. The reason for the rise in rupee against...