Rupee slips again: Currency down 22 paise to stand at 90.54 against US dollar

Rupee opened connected a anemic enactment connected Wednesday, slipping 22 paise to 90.54 against the US dollar, aft signaling a beardown rally successful the erstwhile session.The currency recorded a beardown show connected Tuesday, soaring 122 paise, oregon 1.33%, to settee astatine 90.27 against the dollar.

The spike came aft India and the United States announced reaching a commercialized agreement, arsenic the quality positioned rupee arsenic Asia's champion performing currency.Forex marketplace participants said that the currency climbed to its strongest level successful astir two-and-a-half weeks and rallied by astir 1.5% connected the backmost of the deal. The momentum was besides supported by Dalal Street’s beardown performance, which gained astir 2.7%, on with softer crude lipid prices and expectations of overseas inflows.As portion of the agreement, the US volition little reciprocal tariffs connected Indian goods to 18 per cent, a complaint little than those applicable to countries specified arsenic China, Bangladesh and Vietnam.Prime Minister Narendra Modi connected Tuesday called the India-US commercialized statement a “big decision” that would payment everyone successful the country, adding that his authorities consistently works successful the nationalist interest.Traders said the woody could promote the instrumentality of overseas organization investors, noting that an betterment successful superior flows successful calendar twelvemonth 2026 whitethorn assistance easiness unit connected the rupee.In different marketplace developments, the dollar index, which tracks the US currency against six large peers, was down 0.05% astatine 97.57. Brent crude futures edged little by 0.14% to $66.18 a barrel.