The post Indian Rupee ticks lower despite optimism on US-India trade deal appeared com. The Indian Rupee (INR) opens cautiously against the US Dollar (USD) on Friday. The USD/INR pair ticks up to near 88. 75 despite hints from United States (US) President Donald Trump that his relations with Indian Prime Minister (PM) Narendra Modi are stable. While speaking to reporters at the Oval Office on Thursday, US President Trump said, “He (PM Modi) largely stopped buying from Russia. And he is a friend of mine, and we speak. Prime Minister Narendra Modi is a great man. He is a friend of mine, and we speak and he wants me to go there. We will figure that out, I will go. Prime Minister Modi is a great man and I will be going,” India Today reported. Later Trump expressed positively that he could visit India next year. These comments from US President Trump came at a time when overseas investors have been hard on the Indian stock market due to delay in a trade agreement between India and the US. Top negotiators from both nations have been expressing that they are close to reaching a consensus from months, but have not agreed on all terms yet. On Thursday, Foreign Institutional Investors (FIIs) turned out to be net sellers again and sold shares worth Rs. 3, 263. 21 crore. Cumulatively, FIIs have pared stake worth Rs. 6, 214 crore so far in three trading days this month. Daily digest market movers: Indian Rupee trades lower against US Dollar The Indian Rupee faces pressure against the US Dollar even as the latter corrects further, following the release of the US Challenger job cuts data for October. During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, ticks higher to near 99. 80. However, it fell sharply to near 99. 60 on Thursday, The US.