The Indian rupee is giving up part of recent accrued gains as dollar is seen recovering amid easing trade tensions between US and China after US Treasury Secretary Scott Bessent revealed that he saw a de-escalation with China. US President Donald Trump reportedly said at a press conference that his discussions with China are going well, adding that he thinks they will reach a deal. He said that tariffs on China would not be as high as 145%, but they wouldn’t be zero. Meanwhile, he also calmed market apprehensions saying he had no intention of firing Fed Chair, improving overall sentiments about the US economy which drove dollar higher. Currently, dollar index is quoting at 99. 06, up 0.40% on the day. Yesterday, rupee consolidated in a narrow-range and settled for the day lower by 8 paise at 85.23 against the US dollar. Shrugging off weak global cues, the benchmark S&P/BSE Sensex ended the session up 187.09 points, or 0.24 percent, at 79,595.59. The broader NSE Nifty index closed up 41.70 points, or 0.17 percent, at 24,167.25 while the BSE mid-cap and small-cap indexes both rose around 0.8 percent.