The Indian rupee logged its worst week since February as drastic shifts in U.S. trade policy sparked volatility in global markets and weighed on risk assets, but also pummelled the dollar, which helped limit the losses.
The rupee closed out the week 0.9% weaker, though it ended up 0.7% to 86.04 per U.S. dollar on Friday. Worsening sentiment on the dollar helped boost Asian currencies on Friday, with the offshore Chinese yuan also up 0.1% despite an escalation in the Sino-U.S. trade war.
Beijing said it is raising tariffs on U.S. goods to 125%, in response to U.S. President Donald Trump's 145% levy.
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