The Indian rupee nudged higher on Friday, supported by likely intervention from the Reserve Bank of India, but still logged its worst weekly drop since late 2022 due to worries over U.S. tariffs and sustained foreign portfolio outflows.

According to the Bloomberg data, Indian rupee has depreciated 0.83 percent in last two weeks. On a year-to-date basis, the local currency is under pressure and second worst performing among Asian peers.

US President Donald Trump's decision to impose 25% tariffs on goods imported from India could hit the country's growth prospects, experts say. It is unclear how big the hit could be, given that Trump has announced an unspecified penalty in addition to the 25% tariff rate.