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The rupee gained 16 paise against the US dollar to 64.96 on Tuesday. Mild selling of the greenback by exporters supported the rupee.
The Indian unit opened at 64.95 and traded between 64.92 and 65.15 in intra-day trade.
Meanwhile, the dollar traded 0.1 per cent lower on the day against a basket of six major rivals. “The market has to work out what the trade wars mean for the US dollar,” said Rabobank currency strategist Jane Foley.
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.
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