Indian rupee Vs dollar: Rupee surges on weak US currency, positive domestic indices

Indian rupee was trading on a positive note on Tuesday against US benchmark dollar index at the interbank forex market. In early opening, the domestic currency unit recovered 4 paise to 65.45 against the dollar on fresh selling of the greenback amid a higher opening of domestic equities.

At around 0959 hours, Indian rupee was trading at 65.535 above 0.083 paisa or 0.13% against US dollar. 

A weak dollar against other currencies overseas supported the domestic unit, forex dealers said in PTI report. 

According to Reuters report, the dollar was barely changed, with demand for safe-haven U.S. Treasuries ebbing as investor risk appetite improved in parts of the broader markets as investors took the view Western-led strikes on Syria were a one-off intervention.

It added, "China`s economy grew a welcome 6.8% in the first quarter of 2018 from a year earlier, official data showed on Tuesday, unchanged from the previous quarter."

Therefore, the dollar index against a basket of six major currencies was little changed at 89.441 after losing 0.4 percent overnight.

In previous day, the rupee had fell by 29 paise, or 0.44%, to close at a six-month low of 65.49 against the dollar on widening trade deficit concerns amid heightened geopolitical worries.

Meantime, the benchmark BSE Sensex was trading at 34,372.44 up by 67.01 or 0.20%, however in early trade, the index rose by 92.66 points, or 0.2%, to 34,398.09. On the other hand, the Nifty 50 surged by 13.90 or 0.13% trading at 10,542.25.