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2025-09-12 17:08:32
[US-India Trade Tensions Continue, Indian Rupee Under Pressure] ⑴ The Indian rupee weakened against the US dollar on Friday, with the USD/Rupee exchange rate inching up to around 88.40, primarily due to ongoing US-India trade tensions. While both sides confirmed that trade negotiations are ongoing, the prospects for a deal remain uncertain. ⑵ The US previously granted its trading partners a 90-day grace period to avoid reciprocal tariffs and stated that India could have been the first country to reach an agreement, but the deal was delayed. ⑶ US Commerce Secretary Howard Lutnick stated on Thursday that the US is willing to move forward with the deal if India stops purchasing Russian oil. ⑷ Foreign institutional investors continued to reduce their holdings of Indian stocks, with a net selling of 347.237 billion rupees from the Indian equity cash sector on Thursday. ⑸ The market is focused on India's August CPI data, which is expected to rise from 1.55% to 2.1% year-on-year, reflecting rising inflationary pressures.
