Indian rupee opens marginally higher at 67.84 per dollar

The Indian rupee opened marginally higher at 67.84 per dollar on Wednesday versus 67.86 yesterday.

Rupee ended its three-day winning streak and closed the session at 67.87(spot) compared to previous close of 67.43 as the dollar strengthened against its major crosses, said Motilal Oswal.

In the last couple of sessions rupee had been supported following easing global crude oil prices that boosted the overall market sentiment. Crude was weighed on reports that Saudi Arabia and Russia have discussed raising OPEC and non-OPEC oil production by some 1 million barrels per day to make up potential supply shortfalls from Venezuela and Iran.

On the domestic front, market participants will be keeping an eye on GDP and fiscal deficit numbers that will be released tomorrow. Better-than-expected growth number could support the rupee on lower levels. For the day, rupee is expected to quote in the range of 67.70 and 68.05, it added.