The Indian rupee opened sharply higher against the U.S. dollar, a day after the Reserve Bank of India said it will provide dollars directly to state oil companies in its latest attempt to shore up the battered currency.
As of 09.06 a.m., the partially convertible rupee traded 2.8 per cent higher at 66.90 as against Wednesday's close of 68.80. The currency had crashed to a record low of 68.85 yesterday. It fell 3.7 per cent yesterday, its biggest one-day fall since October 1995.
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