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India-US trade deal: Rupee aims higher to 119 paise vs US dollar

The rupee appreciated sharply by 119 paise to 90.30 against the US dollar in early trade on Tuesday after the United States slashed tariffs on Indian goods from 50 per cent to 18 per cent under the India-US trade deal. Forex traders said the reduced tariff has improved India’s relative trade position and could revive Foreign Institutional Investor

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Representational Pic

Representational Pic

The rupee appreciated 119 paise to 90.30 against the US dollar in early trade on Tuesday, after US tariffs on India were cut from 50 per cent to 18 per cent.

Forex traders said the 18 per cent tariff changes the story, improving India's relative position and reopening the door for FII participation.

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