The rupee opened lower against the greenback on Thursday but gained soon after in the opening session, helped by lower oil prices.
At 09:10 AM, the rupee was trading at 69.56 a dollar, up 6 paise from its Thursday’s close of 69.50. The home currency opened at 69.58 and touched a high and a low of 69.53 and 69.58 a dollar, respectively.
In the currency market, the dollar was steady against peers such as the euro, pound ahead of next week’s Federal Reserve meeting.
The dollar index against a basket of six rivals was basically unchanged at 97.001, and on track for a near 0.5 percent gain this week. The index had touched an 11-week low of 96.459 last Friday.
Investor focus is now on the Fed’s next policy meeting on June 18-19 and what kind of signals the central bank could offer on the direction of monetary policy, reported Reuters.
In commodity markets, oil prices fell after gains in the previous session when prices were boosted after attacks on two oil tankers in the Gulf of Oman.
Brent crude futures were down 17 cents, or 0.3 percent, at $61.14 a barrel by 0041 GMT. They settled up 2.23 percent on Thursday, at $61.31, having risen as much as 4.5 percent.
Foreign investors purchased shares worth a net Rs 172.35 crore Thursday, provisional exchange data showed.
In debt markets, the yields on the 10-year government bonds were down 0.30 percent to 6.99 percent from its previous close of 6.98 percent. Bond yields and prices move in opposite directions.