The Indian rupee opened higher by 3 paise at 70.79 against US Dollar on Thursday following the signing of the phase-one trade deal between the US and China.
The rupee settled 5 paise higher at 70.82 against the US dollar on Wednesday.
As per media reports, US President Donald Trump signed a partial trade deal with China on Wednesday that takes steps to root out several practices by Beijing that has irked the White House and members of Congress from both parties.
The deal also details a $200bn increase in Chinese purchases of US goods over two years, the media statement added.
On the economy front, India’s merchandise exports declined by 1.8% to US$ 27.36 billion in December 2019 over a year ago. Meanwhile, merchandise imports also fell by 8.8% to US$ 38.61 billion. The trade deficit narrowed 22.3% to US$ 11.25 billion in December 2019 from US$ 13.08 billion in December 2018, according to the Ministry of Commerce & Industry data released on Wednesday.
Meanwhile, gold prices held steady as investors remained concerned about existing tariffs and unresolved issues after Washington and Beijing signed a partial trade deal.
Back home, the Sensex gained 95 points and the Nifty rose 26 points.
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