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Indian Rupee Rises To 4-day High As Border Tensions Ease
(RTTNews) - The Indian rupee strengthened against the U.S. dollar in the Asian session on Monday, as investors reacted to easing Indo-Pak tensions and positive indications coming from China-U.S. trade talks.
After days of attacks and retaliatory strikes, India and Pakistan have reached a mutual ceasefire. India said it had achieved main objectives and warned of a fierce & punitive response to any future Pakistani violations. A DGMO-level talk with Pakistan will be held at 12 noon later today.
The U.S. and China have made significant progress in trade talks in Switzerland over the weekend and agreed to continue consultations on trade issues.
U.S. Treasury Secretary Scott Bessent stated on Sunday that the discussions made "substantial progress," without giving further details. U.S. Trade Representative Jamieson Greer also said that an agreement had been reached. More details are expected at a briefing later today.
The Chinese delegation said it had "candid, in-depth and constructive dialogue," and the two sides have agreed to create a mechanism for further talks.
In the Asian trading today, the rupee rose to a 4-day high of 84.59 from Friday's closing value of 84.74.
If the rupee extends its uptrend, it is likely to find resistance around the 83.00 region.
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