Mumbai: The rupee rose by 17 paise to
64.95 against the US dollar in opening trade today on mild selling of
the greenback by exporters and a higher opening in the domestic equity
market.
Meanwhile, the dollar gained against most major global
currencies as concerns over a global trade war eased after investors saw
Trump s proposed tariffs as more of a negotiating tactic than a hard
policy proposal.
Investors sentiment was supported by the US
non-manufacturing sector growth and improved risk appetite for the
dollar, currency traders said.
The euro pared some losses and edged up 0.2 per cent after an inconclusive Italian election.
Yesterday, the rupee had end higher by 5 paise at 65.12 against the US currency on fresh bouts of dollar selling
by banks and importers amid growing trade war concerns.
Meanwhile, the benchmark BSE Sensex recovered 313.35 points, or 0.92 per cent, to 34,060.13 in early trade today.
PTI
