Indian Rupees are valued by 11 Paise to 79.52 against the US dollar (21.66 versus UAE Dirham) in opening trading on Wednesday, tracking crude oil prices and foreign funding inflows.

Forex traders said the dollar/rupee sideways trade is likely before the important US inflation data.

In the Indian Interbank Foreign Eversal, Rupee opened 79.59 against the dollar and touched 79.52 in an initial agreement, registering an increase of 11 Paise at the last close.

In the previous session on Monday, Rupee was closed at 79.63 against the US dollar.

The Forex Market was closed on Tuesday because of ‘Muharram’.

The dollar index, which measures the strength of the greenback against a basket of six currencies, down 0.10 percent to 106.26.

The Global Oil Brent Oil Benchmark is down 0.27 percent to $ 96.05 per barrel.

According to Anil Kumar Bhansali, Head of the Treasury, Finrex Financial Advisor, the dollar index remains stable before the US CPI data.

“The Asian currency is stable until a little weak, waiting for data. DIPS in USD/INR is purchased as uncertainty in inflation, war and an increase by US Fed permanent,” said Bhansali, added that the Rupee range was 79.40 to 79.80.

“Exporters can sell near 79.80 levels while the importer can buy nearly 79.40 to protect their debt values ​​at the end of their month,” Bhansali added.

In front of the Indian equity market, 30-share Sensex traded 139.31 points or 0.24 percent lower at 58,713.76 points, while NSE NIFTY is wider down 29.55 points or 0.17 percent to 17,495.55.

Foreign institutional investors are clean buyers in the capital market on Monday, buying shares worth RS14.49 billion, according to exchange data.