The Indian rupee notched a slight gain in a week marked by the announcement of sweeping U.S. reciprocal tariffs, which jolted global currency markets and dragged the dollar lower while lifting safe havens such as the Japanese yen and Swiss franc.
The rupee closed at 85.2350 against the U.S. dollar, ending stronger on the day and up 0.3% on the week, adding to a 2% gain over the last fortnight.
The local currency rose to a year-to-date high of 84.9675 earlier in the day but shed some of its gains on the back of corporate hedging demand and a slight dollar uptick in the latter half of the session, traders said.
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