Rupee flat as market cautious ahead of US-China trade talks, Fed rate cut1 min read . Updated: 30 Jul 2019, 09:10 AM IST
- The rupee has risen 0.94% against the greenback in the year so far
- The yield on the 10-year government bond was at 6.419%
Mumbai: The Indian rupee on Tuesday was little changed against the US dollar as traders exercised caution ahead of the resumption of US-China trade talks and the outcome of Federal Reserve’s policy review meeting this week.
Having opened at 68.75 a dollar, the Indian unit was traded at 68.72, in early deals, up 0.02% from its previous close of 68.73.
The yield on the 10-year government bond was at 6.419% compared with Monday's close of 6.412%.
The US Federal Reserve will meet on 30-31 July to review monetary policy and is widely expected to cut interest rates by a quarter percentage point.
Back home, in pre-trade, benchmark equity index Sensex was up 0.01% at 37684.88 points. So far this year, the index has risen 4.89%.
The rupee has risen 0.94% against the greenback in the year so far. Foreign investors bought $9.77 billion in Indian equities and $2.51 billion in the debt market during the period.
Other Asian currencies traded higher. The South Korean won was up 0.13%, Thai Baht 0.11%, China Renminbi 0.1%, Taiwan dollar 0.1%, Philippines peso 0.08%, China Offshore 0.08%, Singapore dollar 0.07%, China Renminbi 0.06%. However, Malaysian ringgit was down 0.18%.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 98.097, down 0.05% from its previous close of 98.044.
(Bloomberg contributed to this story)