India, Oct. 17 -- The Indian rupee opened 5 paise higher at 71.38 against the US dollar in early trade on Thursday tracking positive opening in domestic equities and foreign fund inflows.
Forex traders said rupee was trading in a narrow range as market participants remained cautious ahead of the Brexit summit scheduled later this week and on the domestic front, the RBI meeting minutes that will be released on Friday.
At the interbank foreign exchange, the rupee opened on a positive note at 71.38 then lost momentum and fell to 71.47 against the US dollar, showing a decline of 4 paise over its previous closing.
The Indian rupee on Wednesday had closed at 71.43 against the US dollar.
The local unit however gained some strength and was trad...