The Indian rupee closed stronger against the dollar on Wednesday after volatile trading. The rupee also strengthened along with other Asian currencies due to the fall in the dollar index. Markets around the world are continuously analyzing US President Trump’s initial steps on tariffs and oil production.
The dollar index fell 0.8 percent to 107.97. The rupee closed at 86.33 against the dollar on Wednesday, which was at 86.59 on Tuesday. The rupee has declined by 3.39 percent in the current financial year. So far in January, it has weakened by 0.84 percent.
Trump has said that his administration is considering imposing a 10 percent duty on goods imported from China. He has announced the imposition of about 25 percent duty on imports from Mexico and Canada.