Mumbai: The Indian rupee opened higher on Thursday, snapping a two-day fall. As per forex traders, the fiscal deficit concerns in the US trigger more pressure for the Dollar index.
At the interbank foreign exchange market, the rupee opened at 85.59, up by 5 paise against US dollar . On Wednesday, the rupee settled at 85.58 against theUS dollar.
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Meanwhile, the dollar index, which gauges the strength of the US dollar against a basket of six currencies was trading 0.06 per cent down at 99.49. This is for the fourth consecutive day that dollar index is declining as US President Donald Trump continued to push his sweeping spending and tax-cut bill.
Foreign Institutional Investors bought Indian equities worth Rs 2,201.79 crore on Wednesday.