India, Feb. 5 -- The Indian rupee strengthened against the U.S. dollar in the Asian session on Thursday, in the optimism around the US-India trade agreement.
US President Donald Trump and Indian Prime Minister Narendra Modi announced on Monday that tariffs on New Delhi's exports to Washington had been lowered from 50% to 18%. The tariffs included penalties for purchasing Russian oil.
Investors in India are anticipating the Reserve Bank of India's (RBI) monetary policy statement on Friday. Given that the effects of recent interest rate reduction have not yet been felt by the economy, it is anticipated that the RBI will maintain its repo rate at 5.25%.
The CME FedWatch tool indicates that traders appear certain that the Fed would maintain ...