The rupee opened higher at 69.46 with gains of close to 14 paise over the last close of 69.6087 per US dollar.

The rupee resumed trading On Thursday after the debt, currency and equity markets were closed on Wednesday for Mahavir Jayanti.

Meanwhile, oil prices were trading lower despite the cut in US stockpile.

The yield on the 10-year government bond has been noted to be rangebound for quite some time now.

Q4 earning results, inflation numbers announced earlier in the week and the second phase of voting that begins will make the markets to trade on a cautious note. On Tuesday, global cues, as well as hopes of a stable government after the election results, triggered the Nifty and Sensex to scale to new highs of 11,810.95 and 39,364 points, respectively.

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