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Rupee appreciates against US dollar in early trade on Tuesday
Feb-03-2026
The Indian rupee strengthened against the US dollar in early trade on Tuesday followed by positive domestic equities after the US-India trade deal lowered tariffs, which boosted ‌expectations ‌of renewed foreign fund inflows into Indian capital market. Under the agreement, Washington will cut tariffs on Indian goods to 18% from 25% and scrap the additional 25% penalty imposed earlier over India’s purchases of Russian crude oil. US President Donald Trump said New Delhi had agreed to stop buying Russian oil and buy much more from the US and, potentially, Venezuela, which would help end the war between Russia and Ukraine. He said India would move forward to reduce its tariffs and non-tariff barriers against US goods to zero. However, Foreign Institutional Investors offloaded equities worth Rs 1,832.46 crore on Monday, exchange data showed.

The partially convertible currency is currently trading at 90.32, stronger by Rs 1.17 from its previous close of 91.49 on Monday. The currency touched a high and low of 90.52 and 90.23 respectively.
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