Mumbai: The rupee strengthened by 4 paise to
65.10 per dollar in opening trade today on some selling of the
US currency by exporters and banks.
A positive opening for the stock markets also boosted the
domestic currency, dealers said.
Yesterday, the rupee had lost 25
paise to 65.14 on fresh bouts of demand for the American currency from
importers and banks amid rising uncertainty stemming from US President
Donald Trump's possible trade war.
In global trade, the US dollar
had strengthened against
the euro after European Central Bank President Mario Draghi
signalled that any policy normalisation in the euro zone would be
very gradual and President Trump formally announced tariffs on steel and
aluminium imports. US trade partners Canada and Mexico will be exempted
from the levies for now, leading their currencies to strengthen.
Meanwhile, the benchmark BSE Sensex rose 138.52 points, or 0.41 per cent, to 33,490.09 points in early trade today.
PTI
