Despite the tariff letter sent by US President Donald Trump to several countries, the Indian rupee remains firmly for the third consecutive day. On Thursday, 10 July 2025, the rupee rose by 6 paise to 85.62 against the US dollar in early trade. However, the Indian currency has declined by 0.15 percent during the current financial year. Despite the decline in the stock market, the rupee is seen to be strong. A day earlier on Wednesday, the rupee closed at 85.73 per dollar without any change in the interbanking forex market. Forex traders say that the strength of US dollars in foreign markets and the remaining crude oil close to $ 70 per barrel has also affected the market perception.
Constant strength in rupee
On Wednesday, the interbanking opened at 85.84 against the dollar in the foreign exchange market. But after trading within a radius of 85.93 to 85.65 per dollar a day, it eventually closed at 85.73 per dollar. On Tuesday too, the rupee closed with a gain of 21 paise against the dollar. According to Jatin Trivedi, Vice Research Analyst (Commodities and Currency) of LKP Securities, there is some relief from the ongoing conversation on the trade agreement and postponing tariffs for some time. This has helped in stabilizing the Indian rupee, while preventing the decline has also helped to a great extent.
50 percent tariff on Brazil
Here, Trump has imposed a 50 percent heavy tariff on Brazil. Whereas, a 30 percent tariff was imposed on Iraq, Libya and Algeria. Whereas Sri Lanka will now have to pay a tariff of 25 percent for exporting goods to America. Along with this, Trump also said that he would start imposing 50 percent tariffs on copper exports to the US from August 1. However, here the US Fed has indicated that whatever inflation affects due to tariffs will have no effect on their interest rate cuts.
