Currency

Rupee opens flat against US dollar

Updated : January 16, 2020 09:29 AM IST

Global stocks rallied as US and China signed an initial trade deal.

This deal likely to bring much needed stability back to global markets, said experts.

Brent was last seen 45 cents or 0.7 percent up at $64.45.

The Indian rupee started the session on a flat note against the dollar on Thursday.

Global stocks rallied as US and China signed an initial trade deal. The deal will roll back some tariffs and boost Chinese purchases of US products, defusing an 18-month row between the world’s two largest economies but leaving a number of sore spots unresolved.

This deal likely to bring much needed stability back to global markets, according to a commentary published by the China Media Group (CMG) on Thursday.

Chinese Vice Premier Liu He, who is also chief negotiator of the Chinese side of the China-U.S. comprehensive economic dialogue, and US President Donald Trump signed the phase one economic and trade agreement at the White House on Wednesday.

Oil prices, meanwhile, Thursday after the signing of an initial Sino-US trade deal. The US crude inventories fell more than expected.

Brent was last seen 45 cents or 0.7 percent up at $64.45.

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