Rupee gains 11 paise against US dollar

The rupee strengthened by 11 paise to 65.05 against the US dollar in morning trade on Tuesday, encouraged by fresh selling of the greenback by exporters.

The dollar weakened against other global currencies as China imposed extra tariffs on US products, escalating a dispute between two of the world’s biggest economies, and supporting the domestic unit, a currency dealer said.

On Wednesday, the rupee had ended 21 paise lower at 65.18 against the US currency on fiscal deficit concerns.

Forex market remained shut on Monday due to annual accounts closing. The market also remained shut on Thursday and Friday for Mahavir Jayanti and Good Friday, respectively.

Meanwhile, the BSE Sensex shed 91.44 points or 0.13%, to trade at 33,210.91, while the broader NSE Nifty too was trading 0.20%, or 19.95 points lower at 10,191.85.