Mumbai, Feb. 3 -- The Indian rupee staged a sharp relief rally on Tuesday after the announcement of the landmark US-India trade agreement.

Market participants believe the deal will stabilise the currency near the 90-per-dollar mark in the near term and slow the pace of depreciation in the next financial year.

The rupee opened stronger at 90.4263 per dollar on Tuesday against the closing level of 91.5163 on Monday, according to data by Bloomberg.

This was supported by expectations that the trade deal would revive foreign investor sentiment and unwind hedging-related pressure that had weighed heavily on the currency through 2025.

The agreement, announced by US President Donald Trump on Monday after a call with Prime Minister Narendra Mo...