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Reuters

Indian rupee, stocks soar in relief rally after trade deal with U.S.

Reuters · 2 months ago
Reuters
Reuters
2 months ago

India's financial markets rallied sharply on February 3 after a trade deal that slashed U.S. tariffs on Indian goods to 18% from 50%, a development that investors said lifts a key negative for the country's stocks, bonds and currency.

Breakdown
  • India secures a trade deal with the US, cutting tariffs to 18% 8s
  • Nifty 50 index rises 3%, rupee posts best day in over three years 20s
  • Deal includes India agreeing to halt Russian oil purchases 39s
  • Moody's says India unlikely to stop Russian oil imports rapidly 47s
  • Indian markets had suffered since US tariffs imposed in 2025 1m 11s
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