Rupee Soars: India-US Trade Deal Triggers Biggest Intra-Day Surge Since Dec 2018
Business
M
Moneycontrol•03-02-2026, 16:46
Rupee Soars: India-US Trade Deal Triggers Biggest Intra-Day Surge Since Dec 2018
- •The Indian Rupee surged to a three-week high of 90.19 against the US dollar after the India-US trade deal was finalized.
- •It closed at 90.27 against the US dollar on Tuesday, marking the biggest single-day gain since December 2018.
- •Forex traders attribute the surge to the trade deal, which reduced US tariffs on Indian exports from 50% to 18%.
- •Analysts believe the deal will improve India's trade position and attract renewed foreign portfolio flows into Indian markets.
- •The Rupee's strengthening could lead to a reversal in FII outflows and further strengthen Indian equities.
Why It Matters: The India-US trade deal significantly boosted the Rupee, leading to its largest single-day gain in over three years.
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