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.

The Reserve Bank of India’s monetary policy committee on Wednesday unanimously voted to maintain its policy repo rate at 5.50% and its monetary policy stance at neutral.

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.