The rupee strengthened to 1.2% to 90.40 per dollar in early trading today as India’s financial markets surged following a new trade agreement that reduced US tariffs on Indian goods from 50% to 18%.
India’s benchmark Nifty 50 index jumped nearly 5%, moving to within about 100 points of its record high set in January, while yields on the 10-year government bond eased by 5 basis points to 6.72%.
With these gains, the Nifty appeared headed for its strongest single-day performance in five years, and the rupee was poised for its best session since November 2022.
About The Author
