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INR settles lower on tariff related worries; Firm dollar and higher oil prices add to further woes As on : 08-Jan-26  16:48

The Indian rupee fell 7 paise to settle at 89.94 (provisional) against the US dollar on Thursday, weighed down by higher crude oil prices, foreign fund outflows, and a stronger greenback. The apprehension of any further tariffs by the US and weak sentiments at the domestic equity markets further pressured the local unit. Indian shares fell sharply on Thursday, with key benchmark indexes Sensex and Nifty extending losses for a fourth consecutive session due to ongoing geopolitical tensions and tariff-related concerns. The benchmark BSE Sensex fell 780.18 points, or 0.92 percent, to 84,180.96, reflecting widespread weakness across sectors after reports emerged that U.S. President Donald Trump has okayed a bipartisan bill that can further add to India's tariff troubles. The bill, if passed, could impose up to 500 percent tariffs on nations that knowingly purchase Russian oil. The broader NSE Nifty index ended down 263.90 points, or 1.01 percent. At the interbank foreign exchange, the rupee opened at 89.96 and traded in the range of 89.73 to 90.13. It eventually settled at 89.94 (provisional), down 7 paise from its previous close.

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