The Indian rupee opened stronger today, trading between ₹85.60 and ₹85.64 per US dollar, supported by a broad Asia‑wide move following a US–Vietnam trade agreement and softer-than-expected US private payroll numbers. Market participants anticipate that a potential India–US trade deal could further solidify the rupee before the WTO-imposed July 9 tariff deadline. Meanwhile, the downward shift in US job growth has heightened speculation of a Federal Reserve rate cut, further easing currency pressure .
Despite recent tariff concerns, foreign investors showed renewed confidence, buying ₹129.1 million in Indian equities while offloading ₹37.4 million in bonds on July 1. With Brent crude prices remaining around $68.5 a barrel and long-term US Treasury yields steady at roughly 4.26%, key indicators point to a stable macroeconomic backdrop for the rupee. Traders are cautiously optimistic that global uncertainties will maintain current momentum, though further clarity on trade negotiations could influence the next move
