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MUMBAI : Mumbai: Indian rupee on Monday rebounded and closed little changed against the US dollar tracking gains in local equity markets.

The domestic currency settled at 70.93 a dollar, up 0.02% from its previous close of 70.95.

The currency had opened at 71.08 as traders exercised caution eyed US-China trade talks.

Trade groups from China and the US held “constructive" talks on relevant economic and trade issues of mutual concern in Washington during 19-20 September.

Government bond yields fell 4 basis points, after rising 15 basis points on Friday, as Finance Minister Nirmala Sitharaman allayed concerns about a near-term increase in government borrowing.

The yield on the 10-year Indian government bond ended at 6.749% compared with its previous close of 6.789%.

The benchmark equity index Sensex closed 2.83% higher at 39090.03 points. So far this year, the index has risen 8.4%.

In the year so far, the rupee has weakened 1.65%, while foreign investors have bought nearly $6.35 billion in Indian equities and $4.36 billion in debt.

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