Indian Rupee Expected to Hold Narrow Range Despite Trade Pact Boost and Historic Single Day Gains
A Reuters poll shows the rupee will trade in a narrow range despite a trade pact announcement. Forecasts follow the currency's largest one-day gain since 2018.
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President donald trump of the 
US announced a trade pact with 
IN to reduce tariffs on Indian goods from 50 percent to 18 percent. This announcement triggered the largest one-day gain for the Indian rupee since December 2018, as the currency rose 1.36 percent against the dollar on Tuesday. While the news boosted sentiment, a Reuters poll of 27 foreign exchange strategists conducted between February 3 and February 4, 2026, suggests the currency is expected to remain within a narrow range over the coming months rather than fully reversing its recent losses.
US announced a trade pact with IN to reduce tariffs on Indian goods from 50 percent to 18 percent. This announcement triggered the largest one-day gain for the Indian rupee since December 2018, as the currency rose 1.36 percent against the dollar on Tuesday. While the news boosted sentiment, a Reuters poll of 27 foreign exchange strategists conducted between February 3 and February 4, 2026, suggests the currency is expected to remain within a narrow range over the coming months rather than fully reversing its recent losses.
