Rupee Soars After India-US Trade Deal, NDF Signals Return to 90/$
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CNBC TV18•03-02-2026, 00:14
Rupee Soars After India-US Trade Deal, NDF Signals Return to 90/$
- •The Indian rupee strengthened significantly in offshore trade, with the NDF market quoting INR at 90.61, indicating a 90 paise appreciation.
- •This sharp rebound follows the India-US trade deal, improving market sentiment and suggesting easing dollar demand.
- •Onshore, the rupee gained 44 paise to close at 91.49 against the US dollar on Monday, February 2, after the Union Budget 2026-27.
- •The recovery comes after the rupee hit a record low of 92.02 on Friday, experiencing its worst monthly fall in over three years in January.
- •Market veteran Madhu Kela noted that the rupee's move reflects renewed market confidence and anticipates significant FDI announcements.
Why It Matters: The Indian rupee rebounded sharply after the India-US trade deal, signaling renewed market confidence and potential for further appreciation.
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