USD/INR closed at 68.68 against its open at 68.91.The pair fell after opening up Tuesday on selling by exporters and foreign bank amid FII inflows into local stocks.However increased risk aversion owing to escalating trade tension between the US and China and dollar buying by oil importers caused the currency pair to open up today. "Inflows into stocks and dollar selling by foreign banks and exporters are supporting the rupee.
Oil importers too were buying dollar as they try to shore up their reserves as Brent crude oil prices rose on reports of fall in Saudi Arabia crude oil production. WTI traded 0.07% higher to $69.06/barrel while Brent surged 0.33% to $73.99/barrel.
Meanwhile, according to a Chinese newspaper, Donald Trump claimed the US is winning the trade war against world superpower China.
The China Daily wrote in an editorial that Donald Trump has 'an ability to elasticise the truth'.
Local stocks opened at record as robust earnings continues to provide optimism while US-China trade war concerns continues to weigh on investor sentiments.
Sensex provisionally ends 45 points lower with 18 components in the red.