The US dollar traded 1% higher against major world currencies on the view that the US Federal Reserve was still on track to hike rates this year.
Indian rupee opened marginally higher by 5 paise at 65.67 per dollar against previous closing of 65.72.
Ashutosh Raina of HDFC Bank said, "Some overnight comments from Fed officials have kept the hopes of a Fed hike later this year alive, and reassured markets about global growth."
"The FOMC holding rates in the recent policy resulted in EM currencies gaining against the dollar with the USD-INR currency pair settling below the psychological 66/dollar figure. The pair is expected to trade in the 65.50-66/dollar range in the short term," he added.
The US dollar traded 1% higher against major world currencies on the view that the US Federal Reserve was still on track to hike rates this year. The euro slipped below 1.12.
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