Rupee slips to 90.74 as India-US trade framework weighs markets
Rupee slips to 90.74 as India-US trade framework weighs markets
Rupee ends at 90.74 per dollar amid volatility as traders weigh the India-US interim trade framework, with tariffs and energy trade details shaping sentiment.
The rupee closed at 90.74 per U.S. dollar on Monday, February 9, 2026, after a highly volatile session. It opened at 90.66, briefly surged to 90.37, then pared those gains and slipped to an intraday low of 90.77 before settling down 9 paise from the previous close. Traders said the day’s moves reflected a tug of war between supportive cues from domestic equities and foreign fund inflows and a risk-off mood that crept back into markets on concerns about policy details and global cues.
On the global front, the dollar index hovered around 97.58, while Brent crude traded around $67.34 a barrel. India and the United States had announced a framework for an interim trade agreement over the weekend, pledging to reduce import duties on several goods to boost two-way trade. The U.S. would cut tariffs on Indian goods to 18% from 50%, and India would eliminate or trim duties on a wide range of American industrial and agricultural products. In a joint statement, the authorities signaled a concerted push to expand bilateral commerce, with India outlining its intention to purchase up to $500 billion of U.S. energy products, aircraft and parts, precious metals, technology products, and coking coal over the next five years.
The rupee’s moves followed a prior session where it declined 31 paise to settle at 90.65, underscoring ongoing sensitivity to the evolving trade-talk narrative and global market cues. Market participants will be watching for the exact pace and timeline of tariff reductions and the full scope of goods covered, as well as any follow-up measures to ensure smooth implementation. Meanwhile, domestic equities had provided intermittent support, helping limit the day’s downside, but traders remained cautious about the potential for renewed volatility until clarity emerges on policy execution and timelines.
