Rupee Surges 7-Year High, Outpaces Asian Currencies After US Tariff Cut

• The Indian Rupee recorded its largest single-day gain in 7 years, strengthening by 1.4% against the dollar and closing at 90.27.
• This surge follows a US announcement to cut tariffs on Indian goods from 50% to 18%, boosting market sentiment.
• The Rupee's strong performance positions it to turn positive for the year 2026, being just 40 paise away.
• The stock market also saw a significant rally, with the Nifty 50 closing 3% higher, its largest single-day rise since May 2025.
• Market experts anticipate renewed foreign investor interest and positive FPI flows due to the stronger Rupee and improved valuations.

Why It Matters: The Rupee's record surge and stock market rally signal renewed investor confidence after US tariff cuts.