<p>The rupee kick-started 2020 on a positive note with gains of 14 paise against the US currency on the first trading day of the New Year on Wednesday.</p>.<p>The domestic currency settled at 71.22 against the previous close of 71.36 as positive macro data and optimism over the US-China trade deal boosted investor sentiment.</p>.<p>"India's rupee rises in thin holiday trading as the nation's current-account gap narrowed in the last quarter. The CAD was USD 6.3 billion in the July-September period, or 0.9 per cent of gross domestic product, lower than the median USD 7.10 billion deficit estimated and compares with the previous quarter's USD 14.2 billion, or 2 per cent of GDP," said V K Sharma, Head - PCG & Capital Market Strategy, HDFC securities.</p>.<p>Meanwhile, Indian equity markets also started the New Year on a high note. The 30-share BSE Sensex ended the day higher by 52.28 points, or 0.13 per cent, at 41,306.02. The broader NSE Nifty closed 14.05 points, or 0.12 per cent, higher at 12,182.50.</p>.<p>Foreign funds pulled out Rs 1,265.10 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 585.07 crore on Tuesday, provisional data showed.</p>.<p>Traders said the rupee gained support amid positive developments on the US-China trade deal front.</p>.<p>US President Donald Trump on Tuesday said that a partial new US-China trade agreement will be signed in the middle of this month, announcing that he will also then travel to China for continued talks.</p>.<p>"I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15," Trump tweeted.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.54 per cent to 96.90.</p>.<p>The 10-year government bond yield was at 6.50 per cent.</p>.<p>The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.2740 and for rupee/euro at 79.8830. The reference rate for rupee/British pound was fixed at 93.4835 and for rupee/100 Japanese yen at 65.59. </p>
<p>The rupee kick-started 2020 on a positive note with gains of 14 paise against the US currency on the first trading day of the New Year on Wednesday.</p>.<p>The domestic currency settled at 71.22 against the previous close of 71.36 as positive macro data and optimism over the US-China trade deal boosted investor sentiment.</p>.<p>"India's rupee rises in thin holiday trading as the nation's current-account gap narrowed in the last quarter. The CAD was USD 6.3 billion in the July-September period, or 0.9 per cent of gross domestic product, lower than the median USD 7.10 billion deficit estimated and compares with the previous quarter's USD 14.2 billion, or 2 per cent of GDP," said V K Sharma, Head - PCG & Capital Market Strategy, HDFC securities.</p>.<p>Meanwhile, Indian equity markets also started the New Year on a high note. The 30-share BSE Sensex ended the day higher by 52.28 points, or 0.13 per cent, at 41,306.02. The broader NSE Nifty closed 14.05 points, or 0.12 per cent, higher at 12,182.50.</p>.<p>Foreign funds pulled out Rs 1,265.10 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 585.07 crore on Tuesday, provisional data showed.</p>.<p>Traders said the rupee gained support amid positive developments on the US-China trade deal front.</p>.<p>US President Donald Trump on Tuesday said that a partial new US-China trade agreement will be signed in the middle of this month, announcing that he will also then travel to China for continued talks.</p>.<p>"I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15," Trump tweeted.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.54 per cent to 96.90.</p>.<p>The 10-year government bond yield was at 6.50 per cent.</p>.<p>The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.2740 and for rupee/euro at 79.8830. The reference rate for rupee/British pound was fixed at 93.4835 and for rupee/100 Japanese yen at 65.59. </p>