The Indian rupee strengthened against the US dollar tracking Asian peers which gained after the US delayed tariffs on some Chinese imports. According to the US, it was delaying until mid-December the 10% tariff on some China products that are high on many holiday shopping lists such as phones, laptops and toys. Government bond yields rose for the fifth consecutive sessions. The 10-year government bond yield was at 6.546%, compared with its previous close of 6.526%. The foreign investors have bought nearly $7.92 billion in equity and $2.82 billion in debt, from year till date.
Most Asian currencies were trading higher. South Korean won was up 0.8%, Taiwan dollar rose 0.74%, Indonesian rupiah gained 0.63%, Japanese yen climbed 0.36%, China renminbi rose 0.31%, Philippines peso gained 0.29%, and Malaysian ringgit was up 0.25%. However, China Offshore fell 0.32%, and the Singapore dollar was down0.08%. The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.776, down 0.04% from its previous close of 97.812.