The Indian rupee opened marginally higher by three paise at 68.13/$ against the previous close of 68.16/$.

On the economy front, the Reserve Bank of India relaxed rules for classifying bad loans for small borrowers saying they may need more time to repay their loan dues after the government withdrew higher-value bank notes.

The Indian Rupee closed lower by 3 paise at 68.16/$. The local unit hit a high of 68.08/$ and a low of 68.30/$ today.

The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.25 while for the Euro it was 72.35. The RBI’s reference rate for the Yen stood at 61.45; reference rate for the Great Britain Pound (GBP) stood at 84.4158.