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In the year so far, the rupee has weakened 1.83% (Mint file)
In the year so far, the rupee has weakened 1.83% (Mint file)

Rupee trades higher on optimism about US-China trade talks

  • In early deals today, the rupee traded at 70.83 a dollar, up 0.34% from Thursday's close of 71.07
  • The Indian unit had opened at 70.84 a dollar

Mumbai: The Indian rupee on Friday opened stronger against the US dollar, tracking gains in its Asian peers amid optimism about the outcome of US-China trade talks.

In early deals today, the rupee traded at 70.83 a dollar, up 0.34% from Thursday's close of 71.07. The Indian unit had opened at 70.84 a dollar.

In pre-opening today, the benchmark Sensex was up 0.38% or 144.02 points at 38024.42. So far this year, it has gained 5%.

The yield on the 10-year Indian government bond was at 6.464% compared with its previous close of 6.453%.

In the year so far, the rupee has weakened 1.83%, while foreign investors have bought nearly $7.52 billion in Indian equities and $3.95 billion in debt.

Other Asian currencies also traded higher. The South Korean won was up 0.66%, Philippines peso 0.36%, Taiwan dollar 0.25%, China Renminbi 0.19%, Singapore dollar 0.10%, Malaysian ringgit 0.1%, Indonesian rupiah 0.07%, China Offshore 0.07%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 98.654, down 0.05% from its previous close of 98.701.

Bloomberg contributed this story


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