Rupee trades past 86/USD, down 61 paise as Trump threaten additional tariffs on BRICS

Indian rupee closed at 85.3950 against the greenback at previous trading session.

Indian rupee fell around 61 paise in the afternoon trade and breach 86 mark against the US dollar after US President Donald Trump threatened to impose extra 10 percent tariffs on BRICS nations.

Additionally, the fall of domestic currency was also fueled by uncertainty over India-US trade deal, currency experts said.

The local currency, which opened at 85.5837 against the US dollar, fell to 86.0038 against the US dollar during the afternoon trade. Indian rupee closed at 85.3950 against the greenback at previous trading session.

US President Donald Trump on Monday issued a sharp warning on his social media platform Truth Social, declaring that any country aligning itself with what he called the “Anti-American policies of BRICS” will face an additional 10% tariff—with no exceptions.

“Any Country aligning themselves with the Anti-American policies of BRICS will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!” Trump wrote in a post, signaling a tougher stance on nations seen as drifting toward the influence of the BRICS bloc.

Trump's statement comes as the BRICS nations hold their annual summit in Brazil's Rio de Janeiro. Some of the biggest emerging economies are in attendance.