The rupee opened higher against the greenback on Wednesday ahead of the US central bank's meeting later in the day.

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At 09:10 AM, the rupee was trading at 69.52 a dollar, up 18 paise from its Tuesday’s close of 69.70. The home currency opened at 69.57 and touched a high and a low of 69.51 and 69.58 a dollar, respectively.

In the currency market, the dollar traded near a two-week high ahead of the Federal Reserve’s closely-watched policy decision later in the day.

The dollar index versus a basket of six major currencies was steady at 97.615 after climbing to 97.766 on Tuesday, its highest level since June 3.

The Fed is widely expected to stand pat on monetary policy this time but open the door for an interest rate cut at the next meeting in July, reported Reuters.

In commodity markets, oil prices extended sharp gains from the previous session on rekindled hopes for a US-China trade deal.

Brent crude futures were up 34 cents, or 0.6 percent, at $62.48 a barrel by 0028 GMT. They rose 2 percent on Tuesday.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 528.91 crore equities and debt securities Monday, provisional data showed.

In debt markets, the yields on the 10-year government bonds were up 0.13 percent to 6.82 percent from its previous close of 6.81 percent. Bond yields and prices move in opposite directions.