The Indian rupee opened 10 paise higher at per dollar on Tuesday against previous close of 74.43, amid buying seen in the domestic equity market.

On November 2 the domestic units ended 32 paise lower at 74.43 per dollar against Thursday's close of 74.11.

At 10:08 IST, the Sensex was up 343.87 points or 0.86% at 40101.45, and the Nifty was up 101.60 points or 0.87% at 11770.80.

The U.S. dollar hovered near a one-month high on Tuesday as investors opted for caution in the hours ahead of polls opening on election day in the United States.

Oil prices slipped on Tuesday as worries about soaring COVID-19 cases, rapidly rising Libyan supply and U.S election jitters outweighed growing hopes that major producers would hold back on planned production increases.

The rupee depreciated and the pair remained at elevated levels due to a sharp rise in Dollar index. We feel due to the surge in volatility in the forex market, trading range would be high. However, closure in OTM strike Calls are indicating that the rupee could move towards 75 levels, said ICICIdirect.

The dollar-rupee November contract on the NSE was at 74.59 in the last session. The open interest rose 1.9% for the November series contract.