<p>The rupee surged 15 paise to 74.17 against the US dollar in opening trade on Tuesday tracking positive domestic equities and weak American currency.</p>.<p>At the interbank forex market, the domestic unit opened at 74.17 against the US dollar, registering a gain of 15 paise over its previous close.</p>.<p>It had settled at 74.32 against the US dollar on Monday.</p>.<p>Forex traders said positive trend in the equity markets, weak American currency and sustained foreign fund inflows aided the rupee’s movement.</p>.<p>"Optimism surrounding the US-China Phase 1 deal also lent support after both sides saw progress on trade issues and are committed to making the Phase 1 agreement reached in January a success," Reliance Securities said in a research note.</p>.<p>Further, Asian currencies have started stronger against the US dollar and could boost the domestic unit, the report added.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.17 per cent to 93.14.</p>.<p>On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 93.52 points higher at 38,892.60 and broader NSE Nifty advanced 23.62 points to 11,490.05.</p>.<p>Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 219.07 crore on Monday, according to provisional exchange data.</p>.<p>Brent crude futures, the global oil benchmark, rose 0.09 per cent to USD 45.17 per barrel.</p>
<p>The rupee surged 15 paise to 74.17 against the US dollar in opening trade on Tuesday tracking positive domestic equities and weak American currency.</p>.<p>At the interbank forex market, the domestic unit opened at 74.17 against the US dollar, registering a gain of 15 paise over its previous close.</p>.<p>It had settled at 74.32 against the US dollar on Monday.</p>.<p>Forex traders said positive trend in the equity markets, weak American currency and sustained foreign fund inflows aided the rupee’s movement.</p>.<p>"Optimism surrounding the US-China Phase 1 deal also lent support after both sides saw progress on trade issues and are committed to making the Phase 1 agreement reached in January a success," Reliance Securities said in a research note.</p>.<p>Further, Asian currencies have started stronger against the US dollar and could boost the domestic unit, the report added.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.17 per cent to 93.14.</p>.<p>On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 93.52 points higher at 38,892.60 and broader NSE Nifty advanced 23.62 points to 11,490.05.</p>.<p>Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 219.07 crore on Monday, according to provisional exchange data.</p>.<p>Brent crude futures, the global oil benchmark, rose 0.09 per cent to USD 45.17 per barrel.</p>