USD/INR closed 68.6200 against its previous day close at 68.68 The pair traded flat on subdued dollar amid selling by exporters.
Dollar edged lower against its rival currencies taking time out from its recent rally against euro, pound & yuan. Yuan gained positive momentum taking some sigh of relief from trade war concern. However, we are of the view that this will short live and yuan will continue to weaken in near future,
The greenback remained subdued against other major currencies on continued lack of US economic data keeping investors on the sidelines.
Local stocks opened on a positive note tracking moderately higher Asian markets amid optimism over key earnings from Lupin, Cipla, HPCL, BPCL and others.
Globally, Asian shares surged as investors looked past protectionism tussles and instead focused on US stocks approaching fresh all-time highs.
Meanwhile, trade tensions remained in focus as the US said it will begin imposing 25% duties on an additional $16 billion in Chinese imports in two weeks.
It will be the second time the US slaps duties on Chinese goods in about the past month, despite complaints by American companies that such moves will raise business costs and eventually consumer prices.
Sensex provisionally ends 240 points higher with 22 components in the green.