The rupee strengthened by 21 paise to 85.34 against the US dollar in early trade on Friday, buoyed by broad gains in Asian currencies amid renewed optimism over potential trade deals with the United States.
According to forex traders, positive sentiment was driven by US President Donald Trump’s announcement of a trade agreement with Vietnam, sparking hopes that more such deals could follow ahead of the key July 9 deadline.
This optimism lifted the overall mood across Asian forex markets, providing a fresh boost to the rupee.