Rupee Weakens Against Dollar At 70.01

New Delhi: The Indian Rupee was trading on a weaker note against the US dollar on Tuesday after crude oil prices surged in eight out of nine trading sessions. This comes amid traders speculations regarding the outcome of the US-China trade talks.

At 9.10am, the Indian currency was trading at 70 a dollar, down 0.46% from US-China previous close of 69.68. The domestic unit opened at 69.84 a dollar and touched a low of 70.01 a dollar.

US expressed optimism it can reach a “reasonable” trade deal with China as President Xi Jinping dispatched one of his top aides to the negotiations in Beijing.

The benchmark Sensex index rose 0.25% to 35940.70 points. Year to date, it is down 0.3%. So far, the Rupee has declined 1.3% this year, while foreign investors have sold $203.80 million in equities and bought $43.50 million in the debt markets.

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