Indian Rupees depreciated 23 Paise to 79.68 against the US dollar (21.71 versus UAE Dirham) in opening trade on Thursday, tracking the power of American currencies in foreign markets and trends that were muted in Indian equity.

In the Indian Interbank Foreign Eversal, Rupees opened at 79.60 against the US dollar, then dropped to 79.68, registering a decrease in 23 paises at the last close.

The dollar index, which measures the power of greenback against a basket of six currencies, rose 0.06 percent to 106.64, such as the Minutes of the Federal Open Market Committee (FOMC) meeting that although everything slowed down in the US, Fed was not carried out at an increase.

Meanwhile, the Global Brent Crude Futures oil benchmark advances 0.14 percent to $ 93.78 per barrel.

“The higher dollar index is offset by lower oil prices, maintaining rupees in a narrow range while Indian 10 -year bonds have risen when oil prices fall,” said Anil Kumar Bhansali, Head of the Treasury, Financial Advisor Finrex.

On the Indian equity market front, 30-share Sensex traded 229.29 points or 0.38 percent lower at 60,030.84, while NSE NIFTY is wider down 61.15 points or 0.34 percent to 17,883.10.

Foreign institutional investors remain a clean buyer in the Indian capital market on Wednesday when they buy shares worth RS23.47 billion, according to exchange data.