The Indian rupee has strengthened slightly against dollar tracking gains among its Asian peers as traders assess the latest remarks from the US on trade talks with China.
The currency opened at 71.48 to a dollar. At 9.10 am, the home currency was trading at 71.48, up 0.31% from its previous close of 71.71.
According to a statement was given by US President Donald Trump, “Not ready to make a deal with China,” but adds Beijing wants an agreement and which could happen soon.
Traders are waiting to release the latest monetary policy minutes given by Reserve Bank of India which is pending. Trading was muted ahead of the Fed’s July meeting minutes and Jackson Hole symposium in the previous week.
The 10-year government bond yield was at 6.595% compared with its previous close of 6.589%.
In pre-trade, the benchmark equity index Sensex was up 0.1% at 37441.75 points. Year till date, the index has risen 3.49%. In the year so far, foreign investors have bought nearly $8.27 billion in Indian equities and $3.12 billion in debt.
Read EquityPandit’s Nifty Outlook for the Week