Indian Rupee Surges 1.45 Against Dollar, Biggest Gain in 8 Years on Trade Deal Hopes

• The Indian Rupee strengthened by 1.45 rupees against the US dollar, marking its biggest single-day surge in eight years.
• This significant gain was primarily driven by a new announcement regarding a trade deal between India and the United States.
• The rupee's strengthening was the largest intraday surge since March 26, 2020, and the biggest percentage-wise gain since December 2018.
• Experts believe positive signals from major economic trade deals boost investor confidence and foreign investment prospects.
• The surge is expected to support India's export sector by increasing foreign currency inflow and stabilizing market sentiment.

Why It Matters: Indian Rupee records an 8-year high surge against the dollar, fueled by an India-US trade deal announcement.