Rupee settles 9 paise higher at 68.94 against US dollar

The Indian rupee surrendered most of its early gains and settled for the day 9 paise higher at 68.94 against the US dollar on Monday as investor sentiments were revived by US-China trade truce.

At the interbank foreign exchange (forex), the domestic currency opened at 68.96 a dollar and gained further strength to touch a high of 68.82 during the day.

The domestic currency, however, could not hold on to the gains and fell to 69.09. The rupee finally settled at 68.94 a dollar, higher by 9 paise over its previous close.

The Indian unit had settled at 69.03 against the US dollar Friday.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.27 per cent to 96.39.

Forex traders said the rupee appreciated in the morning trade as Chinese President Xi Jinping and his American counterpart Donald Trump at the G20 summit agreed to re-launch the stalled negotiations to end the trade war.

"Indian rupee started the day on positive note amid record ...