The Indian currency opened flat on Tuesday against the US dollar, with other Asian currencies trading on a mixed note, as traders await developments on US-China trade deal.
The rupee opened at flat at 71.24/$ vs. Monday's close of 71.23/$. The yield on the 10-year Indian government bond was at 6.482% compared with its previous close of 6.483%.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was down 0.02% at 98.435, from its previous close of 98.454.
On Monday, the rupee declined by 21 paise to close at a three-week low of 71.23 against the US currency.
On the economy front, the CPI inflation rate rose to a 14-month high of 3.99% yoy in September, mainly on the back of food inflation. The CPI food inflation rate rose to 5.11% yoy in September from 2.99% yoy in August. The WPI inflation dipped further down to a 39-months low of 0.3% in September 2019 from 1.1% in August 2019. The WPI based inflation has been moderating consistently for the last five straight months from 3.2% in April 2019.
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