Rupee in Wednesday's trade opened higher by 26 paise at 73.99 versus previous day's close of 74.25 per US dollar.
In the US, oil futures dragged to below the lowest settlement price since 2003 as crude continues its losing streak amid both supply and demand outlook.
The domestic unit has been seeing some respite after the RBI intervened to calm the financial markets by announcing liquidity measures whereby it would infuse both dollar and rupee and also conduct LTRO.
The yield on 10-year benchmark bond came in at 6.28%.
In the pre-opening after yesterday's savage sell-off, Indian markets opened higher by over 1%.