The Indian rupee rose toward 90.1 per dollar, extending gains to its strongest level in over three weeks amid moderated corporate dollar activity. Corporate flows continued to influence the currency, while easing forward premiums and increased exporter hedging have helped temper near-term depreciation pressures. Additionally, the currency continues to draw some support from the recent US-India trade deal, which cuts US tariffs on Indian goods from 50% to 18% while maintaining protections for certain agricultural products. Key details, including timelines, product coverage, and enforceability, have yet to be confirmed. Analysts say the deal underpins Indian assets, though sustained gains will depend on clarity around implementation and broader capital flows. Investors remain cautious ahead of developments in the Budget session and the Reserve Bank of India’s interest rate decision scheduled for February 6, 2026.