<p>Mumbai: The rupee appreciated 10 paise to 86.71 against the US dollar in early trade on Tuesday, tracking its Asian peers and supported by positive domestic equities.</p><p>Forex traders said the sharp upside for the local unit was restricted as investors grappled with the potential economic impact of growing global trade concerns.</p><p>At the interbank foreign exchange, the rupee opened at 86.71 against the greenback, up 10 paise from its previous close.</p><p>On Monday, the rupee had appreciated 24 paise to close at 86.81 against the US dollar.</p><p>Asian currencies gained slightly as CNH rose to 7.2338, IDR was at 16395 and KRW at 1445.</p><p>Fears that US President Donald Trump's aggressive tariff policies could trigger a broader economic slowdown have undermined the greenback, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.19 per cent higher at 103.56.</p>.Bengaluru housing market sees capital value growth outpace rental .<p>Brent crude, the global oil benchmark, was trading 0.21 per cent higher at $71.22 per barrel in futures trade.</p><p>On the domestic macroeconomic front, India's trade deficit fell to a three-and-half-year low, but the point of concern was exports contracting sharply, Bhansali said, adding that imports too witnessed the most significant decline in 20 months driven largely by a fall in oil imports and gold imports.</p><p>"Due to the threat from Trump's reciprocal trade tariffs exports uncertainty remains as softening global oil prices and rising economic uncertainty keep them on the downside," Bhansali said.</p><p>Additionally, US President Donald Trump's plan to impose broad reciprocal tariffs and sector-specific trade restrictions on April 2, could create further pressure on the rupee.</p><p>In the domestic equity market, the 30-share BSE Sensex was trading 577.71 points, or 0.78 per cent, higher at 74,747.66 points, while the Nifty was up 174.05 points, or 0.77 per cent, at 22,682.80 points.</p><p>Foreign institutional investors (FIIs) offloaded equities worth Rs 4,488.45 crore on a net basis on Monday, according to exchange data.</p>
<p>Mumbai: The rupee appreciated 10 paise to 86.71 against the US dollar in early trade on Tuesday, tracking its Asian peers and supported by positive domestic equities.</p><p>Forex traders said the sharp upside for the local unit was restricted as investors grappled with the potential economic impact of growing global trade concerns.</p><p>At the interbank foreign exchange, the rupee opened at 86.71 against the greenback, up 10 paise from its previous close.</p><p>On Monday, the rupee had appreciated 24 paise to close at 86.81 against the US dollar.</p><p>Asian currencies gained slightly as CNH rose to 7.2338, IDR was at 16395 and KRW at 1445.</p><p>Fears that US President Donald Trump's aggressive tariff policies could trigger a broader economic slowdown have undermined the greenback, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.19 per cent higher at 103.56.</p>.Bengaluru housing market sees capital value growth outpace rental .<p>Brent crude, the global oil benchmark, was trading 0.21 per cent higher at $71.22 per barrel in futures trade.</p><p>On the domestic macroeconomic front, India's trade deficit fell to a three-and-half-year low, but the point of concern was exports contracting sharply, Bhansali said, adding that imports too witnessed the most significant decline in 20 months driven largely by a fall in oil imports and gold imports.</p><p>"Due to the threat from Trump's reciprocal trade tariffs exports uncertainty remains as softening global oil prices and rising economic uncertainty keep them on the downside," Bhansali said.</p><p>Additionally, US President Donald Trump's plan to impose broad reciprocal tariffs and sector-specific trade restrictions on April 2, could create further pressure on the rupee.</p><p>In the domestic equity market, the 30-share BSE Sensex was trading 577.71 points, or 0.78 per cent, higher at 74,747.66 points, while the Nifty was up 174.05 points, or 0.77 per cent, at 22,682.80 points.</p><p>Foreign institutional investors (FIIs) offloaded equities worth Rs 4,488.45 crore on a net basis on Monday, according to exchange data.</p>