Indian rupee opened higher against the greenback on Wednesday, as the dollar edged lower amid US-China trade optimism.

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At 09:10 AM, the rupee was trading at 70.09 a dollar, up 12 paise from its Tuesday’s close of 70.21. The home currency opened at 70.06 and touched a high and a low of 70.05 and 70.14 a dollar, respectively.

The Indian rupee Tuesday plunged by 53 paise to close at 70.21 against the US dollar amid renewed concerns over widening of current account deficit following constant rise in global crude oil prices.

The dollar continued to languish on Wednesday, as hopes of progress in the Sino-US trade dispute boosted commodity-linked and riskier currencies.

The dollar index, which measures the greenback against a basket of six peers, gave up 0.1 percent to 95.787 in early trade.

Oil prices rose on Wednesday, extending gains from the previous session on hopes that Washington and Beijing can resolve a trade dispute that has triggered a global economic slowdown, reported Reuters.

International Brent crude futures were up 42 cents, or 0.7 percent, at $59.14 per barrel.

In debt markets, the yields on the 10-year government bonds fell 1.4 percent to 7.53 percent from its previous close of 7.64 percent. Bond yields and prices move in opposite directions.

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First Published:Jan 9, 2019 9:15 AM IST