The Indian rupee was lower against the dollar in early session, in line with most regional currencies, as uncertainty about the U.S.-China trade deal weighed on risk appetite.
The rupee was trading at 71.92 to a dollar against its previous close of 71.84. The local unit opened at 71.91 and fell to day’s low of 72.00.
Most Asian currencies were lower against the dollar following mixed developments on the U.S.-China trade front.
While the U.S. granted another three-month extension for American companies to do business with China’s Huawei Technologies, CNBC reported that the mood in China about a trade deal is pessimistic on account of President Donald Trump’s reluctance to remove tariffs. Trump last week said that he had not decided anything on scrapping tariffs after China’s Commerce Ministry earlier said that tariffs could be rolled back as part of the interim trade deal.
13 Jul 2020 04:57 PM
Indian shares ended higher on Monday, led by a rally in Reliance Industries, ahead of June's inflation data which investors bet would lead to further interest rate cuts by the central bank.
13 Jul 2020 02:43 PM
The Indian rupee was little changed against the greenback, amid focus on decline in the dollar index
13 Jul 2020 11:45 AM
Indian shares climbed on Monday, as investors bet June inflation data later in the day would lead to further interest rate cuts by the country's central bank, while Reliance Industries gained for a third session.
13 Jul 2020 11:15 AM
The yuan hovered around the key 7 per dollar threshold on Monday, ahead of economic data this week
13 Jul 2020 10:45 AM
Gold prices rose on Monday, holding ground above the key $1,800/oz level, as a weaker dollar and worries over surging COVID-19 cases around the globe kept the safe-haven metal underpinned.
13 Jul 2020 10:31 AM
The Indian rupee was at 75.1275/75.1375 to the dollar against 75.2000/75.2100 in the previous session