Indian rupee appreciated against the US dollar on Friday on lower crude prices and suspected RBI interventions as U.S. President Donald Trump's sweeping new tariffs triggered fresh concerns over a much wider disruption in the global trade landscape. Traders got support as India's manufacturing sector continued to strengthen in the month of July, aided by faster increases in new orders, output and stocks of purchases. According to the survey report, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) surged to 59.1 in July from 58.4 in June, signaling the strongest improvement in the health of the sector since March 2024. On the global front, ringgit closed lower against the US dollar on Friday as the dollar strengthened following new tariffs imposed by the United States on its trading partners, alongside developments related to the 13th Malaysia Plan (13MP).
Finally, the rupee ended at 87.49 (Provisional), appreciated by 16 paise from its previous close of 87.65 on Thursday. The currency touched a high and low of 87.60 and 87.20 respectively.
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