Rupee opens 5 paise higher at 68.52 against US dollar

NEW DELHI: The rupee on Wednesday opened 5 paise higher at 68.52 against the US dollar.

The domestic unit on Tuesday made a strong comeback as it recouped by a steep 23 paise to end at 68.57 on fresh dollar selling by exporters and corporates.

Heavy intervention by the Reserve Bank along with the positive trend in local equity markets largely supported the home currency, PTI reported.


Bruised by multiple negative headwinds, the Indian unit ended at a near five-year low of 68.80 on Monday against the resurgent dollar bull.

The rupee had fallen to a record low of 69.10 last week.

On the global front, oil prices edged up on Wednesday, lifted by a report of declining US fuel inventories amid the ongoing crude supply outage at Syncrude Canada in Alberta, which usually supplies the United States.

Asian stocks were on shaky ground while the Chinese yuan stood near 11-month lows as the spectre of a Sino-US trade war haunted investors ahead of an end-of-week deadline for US tariffs on billions of dollars worth of Chinese imports, Reuters reported.