Rupee gains ground as US-India trade tariffs drop
Business
The Indian rupee climbed to 90.56 per dollar on Monday, recovering from recent losses.
This boost comes right after the US and India announced a new trade framework earlier in February, giving the rupee some much-needed momentum.
US tariffs on Indian exports just dropped from 50% to 18%
Big news for anyone following the economy: US tariffs on Indian exports just dropped from 50% to 18%.
That's great for industries like textiles, pharma, and even auto parts—plus it could mean more jobs and a stronger stock market at home.
Deal scrapped penalty on Russian oil imports
The deal didn't just cut tariffs. It also scrapped a penalty on Russian oil imports and opened doors for Indian tech products in the US.
Meanwhile, India's central bank has been working behind the scenes to keep the rupee stable as markets react to these global shifts.