The Indian Rupee opened higher by 5 paise at 71.23 per dollar on Wednesday vs. the previous close 71.28/$ ahead of the release of the key domestic macro-economic data.
The local unit on Tuesday settled unchanged at 71.28 against the US dollar.
The dollar came under pressure against its major crosses after rallying in the last few sessions after the Fed Chairman said the central bank is “closely monitoring” the coronavirus for its impact on China and the global economy.
On Tuesday, US Federal Reserve Chairman Jerome Powell said the central bank is “closely monitoring” the situation surrounding the ongoing coronavirus outbreak and its potential impact to China and the global economy, though he noted that it is “too early to say” how the disease could hit the US economy.
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