Rupee opens 17 paise higher against US dollar

Mumbai: The rupee rose by 17 paise to 64.95 against the US dollar in opening trade on Tuesday 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.

On Monday, 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 on Tuesday.