The Indian rupee weakened by 11 paise to close at 90.43 (provisional) versus the U.S dollar on Wednesday, February 4, 2026, the day after it had filled the tries Hands on a trade pact between India and the United States of America. Forex traders blamed the fall on the suspected dollar purchasing by the corporates and importers, as well as the trepidation among the markets.
In the foreign exchange market among the banks, the rupee was at a starting point of 90.35 against the greenback. In the session, it hit a high of 90.26 and a low of 90.54 before descending to a lower value of 90.43. The local currency lost a bit of the profits of the previous session when the investors became cautious due to the lack of official documents concerning the trade agreement.
Players in the market stated that although the news of the India-U.S. trade agreement improved the mood, uncertainty still persists since no official agreement, framework text, or end-documented accord has yet been signed or published. This indistinctiveness caused the importers to increase dollar purchases, and this stressed the rupee.
As of Tuesday, February 3, 2026, the rupee had become the top performer in Asia as it had made a historic one-day gain of 117 paise or 1.28 to settle at 90.32 versus the U.S. dollar. It led to the rally following the announcement of an accord between India and the United States on a trade deal, which caused optimism in the financial markets.
Nevertheless, the rupee could not maintain such gains during the period of Wednesday because traders took and watch-and-wait strategy. Analysts have observed that investors now seek more specifications about the extent, schedules, and execution of the suggested trade accord prior to making new stances.
In the meantime, world factors such as dollar index movements and oil prices affected the currency trading, as well. Analysts indicated that the rupee will continue to be unstable in the short run, and it will follow news in the India-U.S. trade negotiation and the overall global economy.
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