Rupee Soars to 90.27, Registers Sharpest Single-Day Gain After India-US Trade Deal

• The Indian rupee gained 122 paise (1.33%) to settle at 90.27 against the US dollar, becoming the best-performing Asian currency.
• The surge followed a trade deal between India and the US, where Washington agreed to lower reciprocal tariffs on Indian goods to 18%.
• Domestic indices Sensex and Nifty also saw significant gains, boosting market sentiment, alongside weaker crude oil prices and expected foreign inflows.
• Prime Minister Narendra Modi hailed the deal as a "big decision" benefiting the nation, expecting it to reopen FII participation.
• Goldman Sachs projects the deal could narrow India's current account deficit by 0.25% of GDP in CY26, easing pressure on the rupee.

Why It Matters: The rupee recorded its sharpest single-day gain in months, settling at 90.27, driven by the India-US trade deal.