Rupee closed at 70.45 against its opening of 69.87.The dollar weakened across the board on Monday as investor demand for riskier assets rose after China and the U.S. agreed to a ceasefire in their trade war that has shaken global markets.The White House said that President Donald Trump told China’s President Xi Jinping at the G20 talks in Argentina that he would not raise tariffs on $200 billion of Chinese goods to 25 percent on Jan. 1 as previously announced.China and United States will attempt to bridge their differences via new talks aimed at reaching a deal within 90 days.
Apart from trade, investor focus will also return to the U.S. monetary policy, with the Federal Reserve expected to raise interest rates by 25 basis points later in December, which would be its fourth rate hike this year.
Nifty closed higher at 10,883.75, while the Sensex index ended higher at 36,241.