Yes, the latest action took by the US Govt. is in response to the Trump’s administration change in stance in its trade policies with several countries, including China, Mexico, and India. US administration terminated India’s designation as a beneficiary developing nation under the key Generalised System of Preference trade programme. Within days after US withdraw of special trade privileges for India and the Mr. Modi Government has also imposed higher retaliatory tariffs on 28 US products which will affect the relation between Rupee and USD as usual.

• This week the Indian rupee appreciated by 0.25 paisa gain compared with the previous week close.
• Last week Indian rupee closed at ₹69.80 with an aggregate loss of 0.33 paisa.
• This week last trading day i.e. Friday rupee closed at ₹69.55 with the loss of 011 paisa.
• Highest gain 0.24 paisa on Thursday and Highest loss 0.11 paisa on Friday.