The post Indian Rupee rallies on confirmation of long-awaited US-India trade deal appeared on BitcoinEthereumNews.com.

The Indian Rupee (INR) opens on a strong note against the US Dollar (USD) on Tuesday, following the confirmation of a long-awaited trade deal between the United States (US) and India the previous day. The USD/INR pair opens with a gap down to near 90.35, the lowest level seen in almost three weeks. On Monday, US President Donald Trump confirmed a bilateral trade pact with India in which Washington slashed tariffs on imports from New Delhi to 18% from 50%, which is lower than or equal to most economies in South Asia and the Association of South-East Asian Nations (ASEAN). This scenario will be favorable for Indian exporters to get a competitive edge over their competitors in other Asian nations. In exchange, the Indian economy agreed to reduce tariffs on imports from Washington to zero, no oil purchase from Russia, and commit to buying several American goods, including energy, agriculture, coal, and technology, worth $500 billion. The US-India trade deal euphoria has resulted in a significant upside move in the Indian stock market. The Nifty50 opens almost 3.5% higher to near 26,330, led by a strong jump in technology, gems and jewelry, textile, and capital market stocks. Daily Digest Market Movers: US Dollar edges down after a two-day rally The US Dollar ticks lower after a strong upside move in the last two trading days, with investors shifting focus to an array of US economic data releases this week. As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.2% lower to near 97.45. The US Dollar has retraced slightly due to the partial US federal shutdown, which will suspend key economic data releases. On Monday, the US ISM Manufacturing PMI report for January showed that the manufacturing sector activity returned to…

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Filed under: News - @ February 3, 2026 6:24 am