In Wednesday's trade the domestic currency opened higher by 15 paise at 70.29 after closing at 70.44 per US dollar.
Meanwhile, benchmark indices are likely to open flat after tensions on the US-China trade deal have eased a beat. In Tuesday's session, Indian stock markets snapped 9-days consecutive longest losing streak and gained 0.8%.
Crude oil prices also lowered as there has been reported a sudden surge in US stockpile but Middle East tensions continued to support its price.
The yield on benchmark 10-year bonds closed at 7.378%.