Indian rupee slips 22 paise against US dollar
Business
The rupee opened at 90.54 against the US dollar on Wednesday, slipping 22 paise after a strong rally on Tuesday that saw it soar 122 paise, or 1.33%, to settle at 90.27—the best level in over two weeks.
Rupee gained on Tuesday after India-US trade deal
A fresh India-US trade deal will lower tariffs on Indian goods to 18%, making them more competitive than exports from China, Bangladesh, or Vietnam.
The rally also got a boost from a solid 2.7% rise in Indian stocks and softer crude oil prices.
PM Modi called the deal a "big decision" for India, and traders are now eyeing more foreign investments this year to keep the momentum going.
Forex market so far this year
In 2026, the rupee has ranged between a high of 92.2297 and a low of 89.8801, showing a modest gain since January.