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.
10 Dec 2019 06:24 PM
The Indian rupee gained for a fifth consecutive session and hit a five-week high against the dollar, driven by corporate and carry trade-related inflows. The rupee settled at 70.92 to the dollar in Mumbai, its highest since Nov. 5, against its previo
10 Dec 2019 03:53 PM
Indian shares ended lower on Tuesday, weighed down by information technology and state-owned bank stocks, as investors took profits in overbought shares toward the year end.
10 Dec 2019 03:22 PM
The euro was little changed versus the dollar on Tuesday as investors were wary of a looming deadline for U.S. tariffs on China, the British election and upcoming Federal Reserve and European Central Bank meetings. The greenback was neutral against a
10 Dec 2019 02:53 PM
Sterling edged higher on Tuesday, cementing recent gains as traders awaited data on economic growth and industrial production and kept an eye on the final days of campaigning ahead of Britain's general election on Thursday. The pound on Monday hit a
10 Dec 2019 12:03 PM
Indian shares inched lower on Tuesday, led by losses in information technology stocks, as investors locked in profits in overbought shares towards the year end. The NSE Nifty 50 index was down 0.14% at 11,920.95 and the benchmark BSE Sensex fell 0.1
10 Dec 2019 11:28 AM
The evolution of the U.S.-China trade war and the direction of global growth momentum remain the primary factors affecting the CNY (onshore yuan). The onshore yuan was trading flat at 7.0380 at midday, having stuck within a tight range of 54 pips in