The rupee opened lower against the greenback on Thursday after rising for three straight sessions, as investors braced for caution ahead of the Reserve Bank of India’s monetary policy outcome later today.

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According to a CNBC-TV18 poll, RBI is expected to cut the key repo rate by 25 basis points to boost growth. One basis point is a hundredth of a percentage point.

On the growth front, the respondents largely expect the projections to be lowered due to a cyclical slowdown and lower private consumption.

At 09:10 AM, the rupee was trading at 68.56 a dollar, down 15 paise from its Wednesday’s close of 68.41. The home currency opened at 68.53 and touched a high and a low of 68.52 and 68.57 a dollar, respectively.

The domestic currency has strengthened by 89 paise in past three trading sessions, helped by overseas inflows.

Globally, the dollar edged lower as investors awaited developments on trade talks between the United States and China.

The dollar was down about 0.1 percent against key rivals, hovering close to its lowest level in a week posted in the previous session.

In commodity markets, Brent edged higher toward the psychologically important $70 level after easing in the previous session.

International Brent futures were up 5 cents at $69.36 a barrel by 0224 GMT. On Wednesday, Brent dipped 6 cents, after touching $69.96, the highest since Nov. 12, when it last traded above $70.

In debt markets, the yields on the 10-year government bonds were down 0.15 percent to 7.26 percent from its previous close of 7.27 percent. Bond yields and prices move in opposite directions.