The Indian rupee opened lower by 16 paise at 71.41/$ vs. Wednesday's close of 71.25/$.
The local unit on Wednesday settled 7 paise higher at 71.25 against the US dollar amid gains in the domestic equity market.
On the international front, the Federal Reserve held interest rates steady at its first policy meeting of the year, with the head of the US central bank pointing to continued moderate economic growth and a “strong” job market, and giving no sign of any imminent changes in borrowing costs.
Meanwhile, oil prices fell after the death toll from the new virus in China climbed to 170 and also rising US crude inventories added to the negative tone.
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