The Indian rupee opened higher by 9 paise at 70.95/$ on Thursday vs. its previous close of 71.04/$.
The Indian rupee fell marginally by 3 paise to close at 71.04/$ on Wednesday due to the uptick in demand for the USD vis-a-vis other currencies overseas.
The domestic currency has been rangebound in the last few sessions owing to the lack of triggers on the domestic front.
Globally, renewed hopes over trade have ebbed worries regarding the ongoing political uncertainty in the US. Trump said a deal to end the long-drawn trade war with China could happen sooner than people think.
Investors are now focusing on the RBI policy meet next month. Any dovish stance by the central bank could weigh down the rupee against the USD.
Meanwhile, Indian benchmark indices rose sharply in morning trade with the Nifty above 11,500 in early trade.
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