Rupee opens 11 paise down at 68.18 against dollar

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NEW DELHI: The rupee opened 11 paise down at 68.18 against dollar on account of buying of American currency by banks and importers.

Meanwhile, the domestic equity market opened marginally in the green following mixed global cues. The BSE Sensex opened 52.89 points, or 0.19 per cent, up at 27,761, while NSE Nifty opened 7.75 points, or 0.09 per cent, up at 8,610.50. The local currency was trading 14 paise down at 68.21 against dollar around 9.15 am (IST).

The rupee on Wednesday settled 8 paise higher at 68.07 against dollar. According to ICICIdirect.com, the rupee ended on a slightly stronger note on Wednesday on the back of strength in major currencies against the US dollar and receding risks of outflow redemptions. Strength in domestic equities and a soft US$ supported the rupee to extend gains.

Foreign institutional investors (FIIs) bought shares worth Rs 110.50 crore on Wednesday with gross gross purchases and sales of Rs 5153.98 crore and Rs 5043.48 crore, respectively, according to data available with depository NSDL.

Government bonds ended higher for a fourth day on Wednesday, as investors covered their short positions ahead of a national holiday and upcoming Budget. The benchmark 6.97% 2026 bond yield fell to 6.42 per cent from 6.44 per cent in the previous session.