The rupee plunged 38 paise to close at an all-time low of 90.32 against the US dollar on Thursday amid uncertainty over the India-US trade deal. Forex traders said the rupee is expected to trade with a negative bias as the delay in the trade deal between India and the US may continue to dent investor confidence.
The rupee declined 31 paise to settle at 90.65 against the US dollar on Friday, weighed down by geopolitical uncertainties over the US-Iran talks, and a sharp rise in global crude oil prices.
Indian-American lawmakers are encouraging the diaspora to actively participate in US politics and run for public office at all levels. This call comes amidst increasing incidents of anti-India and anti-Hindu hate, with leaders emphasising that political representation is crucial to address community concerns and ensure their voices are heard.
External Affairs Minister S Jaishankar raised India's concerns with US Secretary of State Marco Rubio regarding changes to US visa and immigration policies, emphasising that legal mobility should not be negatively affected. Rubio acknowledged potential 'bumps' during the transition as the US aims to improve its immigration system.
India and the US have finalised the terms of reference outlining the roadmap for negotiations of the proposed Bilateral Trade Agreement (BTA), according to a statement issued by the US. US Trade Representative (USTR) Jamieson Greer said that these ongoing talks will help achieve balance and reciprocity by opening new markets for American goods and addressing unfair practices that harm US workers.
Prime Minister Narendra Modi and US Secretary of State Marco Rubio discussed various aspects of India-US bilateral ties, focusing on defence, trade, energy, and technology. Rubio extended an invitation from President Donald Trump for PM Modi to visit the US.
India and the US are expected to sign the first phase of a bilateral trade agreement by mid-March, which will result in the US lowering import duties on Indian goods. India will then begin reducing import duties on certain US goods.
India and the US are expected to sign the first phase of a bilateral trade agreement by mid-March, which will result in the US lowering import duties on Indian goods. India will then begin reducing import duties on certain US goods.
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
The finance minister said that consolidation of state-owned banks could proceed at any time without waiting for the recommendations of the proposed high-level committee on banking.
From the Sensex firms, Mahindra & Mahindra, Maruti, Adani Ports, Bajaj Finserv, Titan, and HDFC Bank were among the major laggards. However, Hindustan Unilever, Trent, HCL Tech, Asian Paints, and Tata Steel were among the gainers.
Stock market benchmark indices Sensex and Nifty ended 2.5 per cent higher on Tuesday after India and the US agreed to a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent.
Congress leader Rahul Gandhi criticised the BJP and RSS for undermining the Constitution and accused the TMC of failing to provide jobs in West Bengal during recent rallies.
The rupee, which was the worst performing Asian currency in 2025 and also in January, was the best performing Asian currency on Tuesday.
External Affairs Minister S Jaishankar and US Secretary of State Marco Rubio discussed cooperation in trade, critical minerals, nuclear energy, and defence, reaffirming commitment to a free and open Indo-Pacific.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
The US is expected to push for sweeping changes in India's policies, ranging from tariff reductions to regulatory overhauls, that could benefit American firms and exporters, under the proposed bilateral trade agreement with India, think tank GTRI said on Sunday.
Prime Minister Narendra Modi stayed calm, avoided public confrontation, and focused on India's long-term interests to steady ties with the United States.
'When negotiators meet next, they may like to bring new issues to the table.'
'Incidentally, Prime Minister (Modi) and President Trump have also spoken on the phone on eight occasions during 2025, covering different aspects of our wide-ranging partnership'
India is seeking either an exemption or a longer timeline on the pharmaceutical tariffs, expected to kick in by July 31.
The Indian rupee, swaying through multiple headwinds, tiding over global trade disruptions and massive foreign fund outlfows, is unlikely to arrest its descent until tariff impact overhangs, notwithstanding robust domestic macroeconomic tailwinds. The Reserve Bank of India (RBI), which sees the rupee's depreciation as a silver bullet to offset the tariff shock, expects the currency to find its stable course once India reaches a trade deal with its largest trading partner, the US.
Following a Supreme Court setback, Donald Trump has announced an increase in global tariffs from 10% to 15%, impacting international trade relations and raising concerns about economic repercussions.
Benchmark equity indices Sensex and Nifty rebounded on Thursday after three sessions of losses, tracking gains in global markets after US President Donald Trump struck a conciliatory tone on Greenland. In a volatile session, the 30-share BSE Sensex climbed 397.74 points, or 0.49 per cent, to close at 82,307.37.
India and the US have entered a new phase in their relationship, marked by greater parity, point out Harsh V Pant and Vivek Mishra.
A Delhi court has criticized the conduct of Indian Youth Congress workers who protested at the AI Impact Summit venue, stating their actions were not legitimate dissent but a 'blatant assault on public order' that also harmed the country's diplomatic image.
India and Canada are negotiating a long-term uranium supply agreement worth $2.8 billion. They are also exploring expanded civil nuclear cooperation after the passage of the SHANTI Bill.
With the India-US trade talks moving in the right direction, Commerce and Industry Minister Piyush Goyal is expected to visit Washington soon, sources said.
Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal on Thursday said he is not concerned about the rupee at all, arguing that even China and Japan witnessed exchange rate weaknesses during their high growth phases.
India will now face a lower reciprocal tariff of 10 per cent, down from 25 per cent, after US President Donald Trump announced a new global levy on items imported into America in the wake of the Supreme Court verdict against his sweeping duties on several nations.
'The prime minister didn't come to Parliament.' 'But the BJP MP is charging that you wanted to assault the prime minister.' 'Only a person who has the intellect and ideology of the BJP can come up with such bizarre charges.'
Foreign investors have pulled out Rs 11,820 crore ($1.3 billion) from Indian equities in the first week of this month, primarily driven by the sharp depreciation of the rupee. This sharp withdrawal follows a net outflow of Rs 3,765 crore in November, further pressuring markets.
The rupee plunged 26 paise to an all-time low of 90.75 against the US dollar in intra-day trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Rijiju, however, did not specify when and who will give notice for privilege motion against Gandhi. It is believed that someone from treasury benches in the Lok Sabha will do so.
In an event-heavy week, stock investors will track ongoing quarterly earnings, the US Federal Reserve's interest rate decision, and macroeconomic data for market direction, analysts said. Moreover, progress in India-US trade negotiations will remain a key focus for investors, an expert said.
MEA spokesperson Randhir Jaiswal said India's energy decisions are guided by national interest.
Macroeconomic data, global geopolitical developments and rising concerns over AI-related disruptions are likely to dictate sentiment in the stock market next week, even as investors may remain cautious amid ongoing volatility, according to analysts.
The rupee witnessed a volatile trading session and settled for the day on a slightly lower note, down 1 paisa at 90.66 against the US dollar on Monday, as traders assessed the details of the India-US interim trade framework.
From the Sensex pack, HCL Tech, Infosys, Tata Consultancy Services, Hindustan Unilever, Sun Pharma and Titan were among the biggest gainers. In contrast, Tata Motors Passenger Vehicles, Maruti, Adani Ports and Bajaj Finance were among the laggards.
The rupee witnessed its worst single-day decline in around two months since November 21, 2025, due to demand for dollars among importers, said dealers. The maturing short positions in the non-deliverable forwards market further weighed on the local currency.
