Rupee in Tuesday's trade opened higher by 15 paise at 71.21 as against previous close of 71.36 per US dollar.
Oil market retreated to levels of $50 per barrel as OPEC summoned a meet to discuss on the impact on global demand due to corona virus affliction.
In the bond market, yield on 10-year benchmark bonds was at 6.49%. At 9:15 am, however the rupee quoted higher at 71.23 per dollar.
Meanwhile, after closing on a positive note on Monday, Indian equities surged by as much as 1%.