The Indian rupee opened tad lower at 71.04 per dollar versus previous session's close of 71.02.

On Thursday, the rupee ended lower snapping five-day gains due to weak sentiment in the domestic equities and continued foreign fund outflows.

Oil prices retreated lower after three consecutive days of gains on account of fresh concerns pertaining to fuel demand given the dull economic growth scenario. Brent crude was down 30 cents, or 0.5 percent, at $61.37 by 0122 GMT, reported Reuters.

Yield of 10-year benchmark bond came in at 6.49%.

Meanwhile, benchmark indices in early trade fluctuated between gains and losses, while reporting Nifty traded higher by 0.26% or Rs. 29.6 at 11612.20 and Sensex gained 0.30% to trade at 39137.70.

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