New Delhi, April 20 -- The Indian rupee opened 10 paise higher at 92.83 against the US dollar on Monday, April 20, as traders assessed the sustainability of the Middle East ceasefire while remaining cautious about the currency's recent rally.

The rupee has rebounded sharply from its all-time low of 95.21 on March 30, largely supported by measures taken by the Reserve Bank of India. The central bank has tightened curbs on arbitrage trading by banks and corporates and advised state-run oil refiners to limit spot dollar purchases, helping ease pressure on the currency.

Additionally, a slowdown in foreign equity outflows has provided further support. However, according to a Reuters report, traders remain wary of further gains, citing volati...