Two truces bring multi-pronged relief for Indian rupee

The Indian rupee saw relief after India and Pakistan ceased military hostilities. A tariff truce between the United States and China also helped. The rupee recovered its losses. It strengthened to 84.6350 against the U.S. dollar. Forward premiums and volatility expectations eased. The U.S. and China agreed to reduce tariffs temporarily. This eased fears of a global economic trade war.