The rupee opened slightly higher against the US dollar on Thursday, tracking weakness in the greenback and oil prices.
At 09:08 AM, the rupee was trading at 68.74 a dollar, up 8 paise from its Wednesday’s close of 68.82. The home currency opened at 68.73 and touched a high and a low of 68.73 and 68.77 a dollar, respectively.
In the currency market, the dollar traded lower, hurt by lower US yields and a rebound in the pound from 27-month lows.
The dollar index versus a basket of six major currencies was flat at 97.200 after shedding 0.2 percent the previous day.
In commodity markets, oil prices extended fall to a fourth session, after official data showed US stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season.
Brent crude futures were down 15 cents, or 0.2 percent, at $63.51 a barrel by 0044 GMT. They fell 1.1 percent on Wednesday.
Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 16.97 crore Wednesday, provisional data showed.
In debt markets, the yields on the 10-year government bonds were down 0.5 percent to 6.31 percent from its previous close of 6.35 percent. Bond yields and prices move in opposite directions.