Indian rupee opened slightly higher against the greenback on Monday, as easing global crude prices helped support the currency.

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At 09:10 AM, the rupee was trading at 71.22 a dollar, up 6 paise from its Monday’s close of 71.28. The home currency opened at 71.23 and touched a high and a low of 71.17 and 71.24 a dollar, respectively.

The rupee Monday weakened by 9 paise to close at 71.28 against the US dollar amid rise in demand for the greenback from exporters and unabated foreign fund outflows.

The local currency gained some ground today despite stronger US dollar.

The dollar was steady near two-week high as China slowdown worries prompted investors to move into safe-haven currencies.

The dollar index, which measures its strength against a group of six major currencies, was steady at 96.33, holding near a 2-week high of 96.43 hit on Monday.

Aiding the local currency was oil prices, which edged lower on Tuesday as concerns over global economic growth stoked fears over future demand, reported Reuters.

International Brent crude oil futures were down 10 cents, or 0.2 percent, at $62.64 by 0106 GMT. They closed down 0.1 percent on Monday.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 299.79 crore Monday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 520.80 crore, provisional data available with BSE showed.

In debt markets, the yields on the 10-year government bonds was unchanged at 7.31 percent. Bond yields and prices move in opposite directions.

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