{"id":83668,"date":"2019-12-13T05:53:54","date_gmt":"2019-12-13T10:53:54","guid":{"rendered":"https:\/\/currencylive.com\/?p=83668"},"modified":"2019-12-13T03:15:46","modified_gmt":"2019-12-13T08:15:46","slug":"101767-usd-inr-trade-deal-rumor-boost-rupee-to-26-day-high","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101767-usd-inr-trade-deal-rumor-boost-rupee-to-26-day-high\/","title":{"rendered":"USD\/INR: Trade Deal Rumor Boost Rupee to 26-day High"},"content":{"rendered":"

The rumor about a trade deal with China boosted Indian Rupee against the US dollar to a 26-day high, closing higher for the 4th<\/sup> consecutive day. On the currency market, the value of Rupee continued to appreciate by 21 paise settling at 70.45 against the US dollar.<\/p>\n

Thursday\u2019s trading session saw the USD\/INR<\/a> exchange rate fluctuate within the range of 70.90 \u2014 70.45.<\/p>\n

During the early Asia trading hours, the USD\/INR exchange rate was seen quoted within a range of 70.44 \u2014 70.71 as Rupee give back some of its post-deal rumor gains. The dollar index, which gauges the greenback’s strength against a basket of major currencies, crashed to a 22-weeks low as a result of the UK election results. Safe haven currencies have been dumped in favor of more high-risk currencies.<\/p>\n

In other news, an anonymous source said that the world\u2019s two most powerful economies in the world have come to a \u201cdeal in principle\u201d (as per CNBC reports) to resolve the 17-month trade war between the US and China.<\/p>\n

The Trump administration made some concessions and offered not to purse the new tariff hikes scheduled to go into effect on 15 December. Additionally, the White House proposed slashing existing tariffs by 50% on the $360 billion in Chinese imports.<\/p>\n

\u201cGetting VERY close to a BIG DEAL with China. They want it, and so do we!\u201d<\/em> the US President Donald Trump wrote on Twitter.<\/p>\n

Later on, a new report revealed that the US President \u201csigned off\u201d the trade deal in an effort to avert the new round of tariff hikes going into effect. From the other side, reports are suggesting that China has yet to accept the new trade deal which prompted INR selling during the Asia trading session.<\/p>\n

Elsewhere, in Asia, China is on track to target economic growth of 6% in 2020 according to Nikkei sources. The downbeat forecast comes as the trade war with the most powerful economy in the world continues to weigh on the country.<\/p>\n

The domestic benchmark equity index NIFTY 50 closed on a positive tone during Thursday\u2019s trading session and settled at 11971, but gaped higher during early Asia trading hours on trade optimism. Year-to-date the Indian stock market has gained 10.97%, benefiting from foreign investment inflow.<\/p>\n

During early Asia trading hours, NIFTY 50 was seen gaping higher and quoted at 12067. The Indian 10-year government bond yield was seen quoted at 6.81 versus 6.78 previous closing prices.<\/p>\n

\n
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The rumor about a trade deal with China boosted Indian Rupee against the US dollar to a 26-day high, closing higher for the 4th consecutive day. On the currency market, the value of Rupee continued to appreciate by 21 paise settling at 70.45 against the US dollar. Thursday\u2019s trading session saw the USD\/INR exchange rate […]<\/p>\n","protected":false},"author":163946598,"featured_media":65341,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1633,1666,1403,1543,1398],"class_list":["post-83668","post","type-post","status-publish","format-standard","has-post-thumbnail","category-inr","category-usd","tag-imports","tag-inr","tag-trade-deal","tag-us-china","tag-usd"],"acf":[],"yoast_head":"\nUSD\/INR: Trade Deal Rumor Boost Rupee to 26-day High - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101767-usd-inr-trade-deal-rumor-boost-rupee-to-26-day-high\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101767-usd-inr-trade-deal-rumor-boost-rupee-to-26-day-high\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101767-usd-inr-trade-deal-rumor-boost-rupee-to-26-day-high\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Trade Deal Rumor Boost Rupee to 26-day High\",\"datePublished\":\"2019-12-13T10:53:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101767-usd-inr-trade-deal-rumor-boost-rupee-to-26-day-high\\\/\"},\"wordCount\":647,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101767-usd-inr-trade-deal-rumor-boost-rupee-to-26-day-high\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-inr-indian-rupee-us-dollar-currencies.jpg\",\"keywords\":[\"imports\",\"inr\",\"trade deal\",\"us - 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