Thu Feb 27 05:33:08 UTC 2025: **Rupee Slides Against Dollar Amidst US Tariff Concerns**
**Mumbai, February 27, 2025** – The Indian rupee weakened by 22 paise against the US dollar on Thursday, reaching 87.41, following recent US tariff announcements that have roiled global markets. The decline comes after a 47-paise drop on Tuesday, with Wednesday’s markets closed for Mahashivratri.
The latest US tariffs, impacting emerging markets, have strengthened the dollar globally. While the implementation of 25% tariffs on Mexican and Canadian goods has been delayed until April 2nd, US President Trump’s reaffirmation of his commitment to tariffs, and hints of potential levies on European goods, continue to fuel uncertainty. This has led to increased volatility in global financial markets.
The dollar index rose 0.19% to 106.62, and Brent crude futures increased by 0.30% to $72.75 per barrel.
Despite the rupee’s decline, Indian equity markets showed modest gains, with the BSE Sensex up 0.02% and the Nifty slightly lower. However, Foreign Institutional Investors (FIIs) sold equities worth ₹3,529.10 crore on Tuesday.
Amit Pabari, MD of CR Forex Advisors, predicts the USD/INR pair will remain at elevated levels, with support at 87 and resistance at 87.50-87.60, reflecting the impact of global economic challenges.
First Piper 