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Last Updated : Jan 15, 2020 05:55 PM IST | Source: PTI

Rupee pares losses; settles 5 paise higher at 70.82 against US dollar

At the interbank foreign exchange, the rupee opened on a weak note at 71.01 against the US dollar.

The rupee pared its early losses to settle 5 paise higher at 70.82 against the US dollar on Wednesday, ahead of the signing of phase 1 trade agreement between the US and China. Forex traders said market participants traded cautiously ahead of the signing of the first phase of the much-anticipated US-China trade deal.

At the interbank foreign exchange, the rupee opened on a weak note at 71.01 against the US dollar. The local unit, however, pared the early losses and after witnessing a high of 70.80. Finally, it closed at 70.82 against the US dollar, higher by 5 paise over its previous closing.

The rupee on Tuesday had closed at 70.87 against the US dollar.

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"The Indian rupee traded flat after opening weak against US dollar ahead of the signing of phase 1 trade agreement between US and China," said V K Sharma, Head PCG and Capital Markets Strategy, HDFC Securities.

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First Published on Jan 15, 2020 05:40 pm
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