Extending its gains for the seventh straight session, the rupee on Thursday opened 3 paise higher at 67.44 against the dollar after the US Federal Reserve kept key interest rates unchanged amid selling of the American currency by banks and exporters.The domestic equity market opened flat on Thursday, following weak global cues. The 30-share BSE Sensex opened 26.19 points, or 0.09 per cent, higher at 28,167, while the 50-share NSE Nifty index opened 8.35 points, or 0.10 per cent, higher at 8,724.The rupee on Wednesday closed 40 paise higher at 67.48 against the dollar. Foreign institutional investors stood net buyers in the domestic equity market on February 1. They bought shares worth Rs 451.07 crore with gross purchases and gross sales of Rs 5542.48 crore and Rs 5091.40 crore, respectively.According to Nirmal Bang Commodities , the rupee is expected to trade sideways to positive later in the day. The open interest of the February contract rose 13.50 per cent from the previous day.

Source: Economic Times February 02, 2017 05:03 UTC