On Asian cues, the rupee begins 9 paise higher at 88.61/USD.

After closing at 88.7038 against the US dollar, the local currency opened at 88.6100 against the US dollar. According to Bloomberg data, Asian currencies saw increases of 0.14 percent for the Japanese yen, 0.13 percent for the South Korean won, 0.11 percent for the Indonesian rupiah, 0.06 percent for the Malaysian ringgit, Thai baht, and Singapore dollar, and 0.02 percent for the Hong Kong dollar. Following the highly anticipated conference between US President Donald Trump and Chinese President Xi Jinping, which resulted in lower tariffs on Chinese imports, Asian currencies saw a recovery. On Thursday, US President Donald Trump said that tariffs on China would be reduced from 57% to 47%. He also said that Beijing and Washington had struck an agreement on a number of crucial trade issues, including the delicate rare earths issue. The Indian rupee opened 9 paise higher at 88.61 per US dollar, taking positive cues from a rebound in Asian markets after easing trade tensions between the United States and China. The local currency had closed the previous session at 88.70, but improved global risk sentiment helped it start stronger. Other Asian currencies, including the Japanese yen, South Korean won, Indonesian rupiah, Malaysian ringgit, and Thai baht, also posted gains ranging from 0.02% to 0.14%, indicating a broad-based recovery across the region. The upward movement in Asian currencies came after a high-profile meeting between US President Donald Trump and Chinese President Xi Jinping resulted in an agreement to reduce tariffs on Chinese imports. Trump announced that the US would lower tariffs from 57% to 47%, signaling a softening of trade tensions that had weighed heavily on global markets for months. The two leaders also reached consensus on several sensitive issues, including trade in rare earth materials—a key area of contention between the two nations. This positive development renewed investor confidence, boosting demand for riskier emerging market assets, including the Indian rupee. Analysts believe that the easing of trade frictions could improve global trade flows, benefiting Asian economies that depend heavily on exports. The rupee, which often mirrors broader regional sentiment, strengthened in response to these improved external conditions. Market experts expect the Indian rupee to trade within a stable range in the near term, supported by favorable Asian cues and steady domestic fundamentals. However, they also caution that sustained appreciation will depend on how global trade dynamics evolve and whether further progress is made in US-China negotiations.