Rupee opens flat at 85.62 against dollar as US, China talk trade

The local currency had closed at 85.63 in the previous trading session.

The Indian rupee opened almost flat at 85.62 against the US dollar on June 10, as traders closely monitored the outcome of ongoing trade talks between the United States and China.

The local currency had closed at 85.63 in the previous trading session.

"The rupee is expected to trade between 85.45 and 85.95 against the US dollar, with an opening near 85.64, as markets await the outcome of US-China trade negotiations," said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP.

The high-level discussions between US and Chinese officials have entered a second day, covering key issues such as tariffs and restrictions on rare earth exports.

US President Donald Trump stated that his administration was "doing well" in the negotiations and highlighted encouraging developments from the talks.

Last month, both nations agreed to pause the imposition of new tariffs, offering a temporary respite to global financial markets.

Meanwhile, the US dollar index saw a rise, climbing to 99.166 in early trade compared to 98.939 in the previous session.