The recent U.S.-India trade deal has significantly impacted the Indian financial markets, with the Indian rupee experiencing its best day in seven years, appreciating by 1.36% to 90.2650 per dollar on Tuesday, as reported by Business Recorder. This rally was driven by the announcement from U.S. President Donald Trump, who declared a reduction in U.S. tariffs on Indian goods from 50% to 18%, in exchange for India halting Russian oil purchases and lowering trade barriers. However, despite the positive sentiment, The Hindu notes that the rupee fell by 11 paise to close at 90.43 against the U.S. dollar on Wednesday, as traders remained cautious due to the absence of a signed agreement and the potential for large corporates to buy dollars.