Forex traders said that the Indian rupee ended the day in Green against the US dollar, which would soon reach a deal to India and the US. File | Photo Credit: Reuters
The rupee received the initial benefit and settled for the day for 4 money at 85.69 (provisional) on Thursday (July 10, 2025), supported by US-India trade deal optimism, even domestic equity markets were locked in a negative sector.
Forex traders said that the Indian rupee ended the day in Green against the US dollar, which would soon reach a deal to India and the US.
In the interbank foreign currency, the rupee opened on a positive note at 85.62 against the US dollar and traded in the range of 85.69 and 85.53 during the day. The local unit eventually settled at 85.69 (provisional) for the day, which ran from its previous bandh to 4 money.
On Wednesday (July 9, 2025), the rupee closed at 85.73 against the US dollar.
According to a government official, an Indian Ministry of Commerce’s team will soon visit Washington for another round of talks on the proposed trade agreement with the US, which will iron the difference in areas such as agriculture and automobiles.
The dates for the US visit have not yet been finalized. However, the team is expected to visit Washington next week.
The official said, “We are not distinguishing between an interim or the first phase of the bilateral trade agreement. We are interacting on a full deal. Whatever will be finished, we can package it as an interim deal and for the rest, the talks will continue,” the official said.
This journey is important because the US has implemented additional import duties (in the case of India, this 26%) till 1 August. India is demanding the removal of this additional tariff.
India is also demanding to reduce tariffs on steel and aluminum (50%) and auto (25%) areas. Against them, India has reserved its rights under the World Trade Organization (WTO) norms to implement retaliation.
Meanwhile, Global Oil Benchmark Brent crude fell 0.34% to $ 69.95 per barrel in futures trade.
The dollar index, which detects the strength of greenback against a basket of six currencies, fell 0.15% to 97.41. On the domestic equity market front, Sensex declined by 345.80 points or 0.41%, settling at 83,190.28, while the Nifty lost 120.85 points or 0.47%, closed at 25,355.25.
According to the exchange data, foreign institutional investors (FII) bought the prices worth 77 crores on a net basis on Wednesday (July 10, 2025).
Published – July 10, 2025 04:59 PM IST
