The rupee exchange rate in India remained stable at 85.6350 throughout Thursday while staying within its established range of 85 to 86. The currency received support from Asian peer currencies that rose slightly yet importers’ steady dollar purchases limited the currency’s upward movement. Market participants stay alert because they want to see how U.S.-India trade negotiations will progress. The analysts at ING observed that investor reactions to U.S. policy risks have become more controlled as tariff deadlines approach. The United States has not issued an official notice about reciprocal tariffs to India which provides the country with additional time to negotiate trade agreements.
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