Rupee opens 28 paise higher against US dollar as crude oil price eases

Regaining some of its lost ground, the rupee on Wednesday opened 28 paise higher at 71.50 against the US dollar as crude oil prices cooled off after Saudi Arabi said it will restore lost oil production by September-end. The domestic unit on Tuesday weakened by another 18 paise to settle at 71.78 against the US dollar as investors fretted over higher crude oil prices. 

Oil prices spiked up to 20 per cent on Monday after drone attacks on Saudi's two oil facilities over the weekend knocked out 5 per cent of global supplies. 

Saudi Arabia sought to reassure markets after