The rupee opened slightly up at 54.25 against the dollar as hopes of key legislations making their cut in Parliament’s winter session buoyed the market sentiment.
The local unit had closed at 54.28 on Friday, even after India’s GDP growth slowed to 5.3 per cent in the second quarter of the current fiscal.
The domestic equity market saw big rallies on Thursday and Friday, with the Sensex and Nifty, closing at a 19-month high of 19,339.90 and 5,878.85 points, respectively.
FII inflows in the Indian equity market have topped Rs 1 lakh crore so far this year.
The currency market will be watchful of developments in Parliament over the whole of this week. Parliament has listed the discussion and vote on the contentious policy of FDI in multi-brand retail on December 4 and 5.
At 9.30 am local time, the rupee was trading at 54.39.
