Mumbai, Sep 17
The Indian rupee opened 23 paise stronger on Wednesday, trading at 87.82 against the US dollar buoyed by renewed trade discussions between India and the United States.
The rupee closed yesterday at 88.09 after appreciating 7 paise intraday. Today's opening marked the rupee's first opening below 88 in two weeks.
Analysts said that the rupee is likely to face resistance around 88.20. Despite support from bilateral trade talks, a decisive break below 87.90 could open the way toward 87.50 or to 87.20, they said.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 96.73, higher by 0.11 per cent. Brent crude was trading 0.20 per cent lower at $68.33 per barrel in futures trade.