Indian rupee opened 20 paise lower against the greenback on Wednesday, after gaining for three straight sessions, as oil prices edged higher after ending 2018 with losses for the first time since 2015.

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At 09:10 AM, the rupee was trading at 69.62 a dollar, down 19 paise from its Tuesday’s close of 69.43. The home currency opened at 69.63 and touched a high and a low of 69.55 and 69.64 a dollar, respectively.

The Indian rupee kicked off 2019 on a resounding note, building up on gains of the previous two sessions and adding another 34 paise Tuesday to close at 69.43 against the US dollar.

On Wednesday, the dollar index was marginally lower from Monday’s close, fetching 96.08.

The dollar has been under pressure in recent weeks as investors grow increasingly nervous about a slowdown in the U.S. economy and peak corporate earnings growth.

Meanwhile, oil markets began 2019 in positive territory on Wednesday, as traders prepare for a likely volatile year of trading amid soaring U.S. crude supply and concerns about a global economic slowdown, reported Reuters.

International Brent crude futures were at $54.31 per barrel at 0126 GMT, up 51 cents, or 1 percent from their final close of 2018.

Foreign funds pulled out Rs 326.87 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 321.98 crore Monday, provisional data showed.

In debt markets, the yields on the 10-year government bonds fell 0.20 percent to 7.40 percent from its previous close of 7.42 percent. Bond yields and prices move in opposite directions.

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