USD/INR: Rupee Edges Lower Ahead of US – China Trade Deal

India’s Rupee edged lower against the greenback as the world’s two most powerful economies in the world are calling a truce on the trade dispute. At the foreign exchange market, the value of Rupee depreciated by 19 paise settling down 0.27% at 70.87 against the US dollar. However, the USD/INR exchange rate was seen trading on Tuesday within a trading range of 70.55 and 70.93.

Trump and Chinese Vice Premier Liu He is expected to sign in Washington a long-awaited phase-one trade deal that will put an end to a conflict that lasted more than 18 months.

The tit-for-tat retaliatory tariff hikes have hurt global economic growth. However, the global economy is not out of the woods yet as some of the US-imposed tariffs on Chinese goods will remain in place despite the trade agreement between the two countries.

Moving forward, India’s Trade Balance data is scheduled to be released at 12:30 UTC. The trade deficit is expected to shrink to -$10.8 billion in December compared to -$12.12 billion previous readings. The slowing global economy driven by the US–China trade war has lead for exports to fall for fourth consecutive months.

The dollar index, which gauges the greenback’s strength against a basket of major currencies, was almost unchanged closing up 0.01% at 97.39.

Elsewhere, foreign institutional investors (FIIS) were net sellers of shares in the local equity market worth Rs -205.56 crore; according to the National Stock Exchange of India data published at the end of Monday’s trading session. At the same time, Domestic institutional investors were net sellers of equities worth Rs -642.47 crore.

The domestic benchmark equity index NIFTY 50 reached a new all-time high and settled up 0.59% at 12,363.30 on Tuesday. However, during early Asia trading hours, NIFTY 50 inched lower on some profit-taking and was seen quoted at 12,292.30.

The Indian 10-year government bond yield was seen quoted at 6.64% in morning trade compared with its previous close of 6.67%.

Currently, one US dollar buys 70.78 Rupees, down -0.13% as of 7:55 AM UTC. 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.