Indian Rupee edged higher outperforming other emerging market currencies taking advantage of easing trade tensions. On the currency market, the value of Rupee during the first trading day of the week appreciated by 28 paise settling at 70.90 against the US dollar. This exchange rate has not been seen since early November.

Monday’s trading session saw the USD/INR exchange rate fluctuate within the range of 71.19 — 70.88.

During the early Asia trading hours and after the London open, the USD/INR exchange rate was seen quoted within a tight range of 70.96 — 70.82. The dollar index, which gauges the greenback’s strength against a basket of major currencies give back some of the NFP gains and settled slightly lower at 97.64.

In other news, a Reuter’s poll revealed that emerging market currencies are set to be among the top performing currencies next year. The global economy slowed down this year due to the ongoing US — China trade war, which is why currency traders flocked safe haven currencies like the US dollar and discarded high-yielding currencies.

The global economic growth is expected to pick up next year in reaction to the easing monetary policies adopted by the major central banks around the world. The high-yielding Rupee can benefit in this market scenario, especially now that the RBI has stopped cutting interest rates. India’s central bank (RBI) kept the benchmark interest rate unchanged at 5.15%.

Meanwhile, currency traders are waiting for the last FOMC meeting of the year. The US Federal Reserve is expected to keep its interest rate policy unchanged at 1.75%. However, the focus will be on any changes in the policy statement and the Fed’s economic forecasts.

The domestic benchmark equity index NIFTY 50 closed indecisive during the first trading day of the week activity and settled at 11937. Year-to-date the Indian stock market has gained 9.9%, benefiting from foreign investment inflow.

During early Asia trading hours, NIFTY 50 was seen quoted lower at 11876 tracking the move in the US equity markets. The Indian 10-year government bond yield was seen quoted at 6.69 versus 6.67 previous closing prices. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.