The Indian Rupee opened higher against the US dollar tracking gains in risk assets in Asian trade.
The Indian Rupee opened higher against the US dollar tracking gains in risk assets in Asian trade.
The currency is now trading at 55.21/22 levels against the dollar as against 55.42/43 on Wednesday.
Traders will watch for June factory data at 11 a.m., which, if throws up a positive surprise, may lead to rupee gains on back of a stock rally.
India's industrial output grew at a slower pace in June, hobbled by weak investment at home because of policy inaction and a drop in export orders from the United States and Europe, a Reuters polls showed on Tuesday.
Dealers will also watch for oil-related USD demand which has been consistent in the last few sessions.
Copyright @ Thomson Reuters 2012
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