The local currency on Thursday opened lower at 71.39 versus its previous close of 71.33 per US dollar.
Oil prices continued their gaining streak for the third-straight day as there is anticipated a deeper production cut from major oil producers amid a decline in demand due to the outbreak of coronovirus in China, the second largest consumer of crude globally. Brent crude rose 0.3% to $55.96 per barrel at 0217 GMT. On the other hand, U.S. West Texas Intermediate (WTI) rose 0.6%, to $51.46 a barrel.
In the bond market, yield on 10-year benchmark bonds stood at 6.477%.
Meanwhile, in the pre-opening session indices were trading flat to positive with SGX Nifty pointing to a flat opening.