The Indian rupee edged higher on Wednesday, helped by the central bank keeping its key rate steady, though impending higher tariffs on shipments to the United States are likely to keep the currency under pressure.

India’s central bank held its key interest rate as Donald Trump’s planned increase to tariffs on the country’s exports to the US threatens to send its economy into turmoil. The Reserve Bank of India ’s decision to keep the repo rate at 5.

The Indian rupee (USD:INR) weakened to an all-time low against the U.S. dollar (DXY) on Tuesday as President Donald Trump threatened to hike tariffs on India for buying oil from Russia. Trump announced last week that he intends to impose a 25% tariff on Indian goods,