REFILE-USD/INR NDFs largely calm after US imposes additional tariffs on India

ReutersAug 7, 2025 1:53 AM

MUMBAI, Aug 7 (Reuters) - USD/INR non-deliverable forwards (NDFs) remained largely unmoved after U.S. President Donald Trump's announcement of increased tariffs on Indian goods.

On Wednesday, Trump issued an executive order imposing an additional 25% tariff on goods from India, citing the country's direct or indirect imports of Russian oil.

The new import tax, effective 21 days after August 7, will raise duties on some Indian exports to as high as 50% - among the highest levied on any U.S. trading partner.

Indian equities too appeared largely unfazed, with GIFT Nifty futures indicating a subtle open.

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