Rupee opens up on easing dollar index, crude price slide

Rupee

The rupee opened marginally down on January 15 as the dollar index eased and crude oil prices slipped, currency experts said.

The local currency opened at 86.49 against the US dollar, as against 86.65 at close on the previous trading session against the greenback.

The dollar index, which tracks the US currency's value against six of its major peers, eased to 109.25 in early trade on January 15, down from 109.65 in the previous trading session.

Oil prices were changed little on Wednesday, after falling the previous day, as a dip in US crude stockpiles and expectations of supply disruptions from sanctions on Russian tankers lent support amid forecasts for lower global fuel demand.

Brent crude futures were up 5 cents to $79.97 a barrel, after dropping 1.4 percent in the previous session.

Prices slipped on Tuesday after the US Energy Information Administration predicted that oil will be under pressure over the next two years as supply should outgrow demand.

The 10-year benchmark bond yield opened down at 6.817 percent from 6.822 percent at close in the last session.