<h1>Rupee gains 17 paise to 85.56 against dollar on trade talk progress and tariff relief</h1> The rupee strengthened 17 paise to 85.56 against the US dollar in early trading following modest progress in bilateral trade talks. The US extended tariff deadline extensions on select exports, providing short-term relief. The country was excluded from tariff hike letters issued to approximately 20 nations. An additional 26% reciprocal tariff imposed earlier was deferred to August 1, though the 10% baseline tariff remains. The US is the country's largest trading partner with bilateral trade worth $131.84 billion in 2024-25.