Rupee in Friday's trade opened lower at 71.26 versus previous close of 71.19. At 9:10 am, the domestic currency quoted at 71.27 per US dollar.
Oil prices on Friday surged after Russia supported a suggestion for the OPEC and its other oil producing allies for deepening production cuts as demand for the commodity has taken a hit as China battles coronavirus epidemic.Brent crude futures rose 32 cents, or 0.6%, to $55.25 a barrel by 0104, after falling 0.6% on Thursday. US West Texas Intermediate (WTI) crude futures were up 26 cents, or 0.5%, at $51.21 a barrel.
The yield on the benchmark 10-year bonds stood at 6.41%.
Meanwhile, Indian indices trade almost with a negative bias, with Nifty still above 12100 levels.