The rupee opened higher against the greenback on Monday, despite a rise in global crude prices and strengthing US dollar against key rival currencies.

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At 09:10 AM, the rupee was trading at 69.94 a dollar, up 20 paise from its Friday’s close of 70.14. The home currency opened at 70.01 and touched a high and a low of 69.94 and 70.02 a dollar, respectively.

Globally, the dollar advanced against rival currencies, hovering close to a near three-month high as investors took cover in the currency amid global growth concerns.

The dollar index, which measures the greenback against a basket of six major rivals, gained 0.1 percent to 97.426 in early Asian trading.

In the commodities market, oil prices rose on Monday, lifted by Saudi oil minister Khalid al-Falih saying an end to OPEC-led supply cuts was unlikely before June and a report of falling U.S. drilling activity, reported Reuters.

Brent crude futures were at $65.91 per barrel, up 17 cents, or 0.3 percent.

Meanwhile, foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,137.85 crore Thursday, as per provisional data.

In debt markets, the yields on the 10-year government bonds were down 0.30 percent to 7.37 percent from its previous close of 7.39 percent. Bond yields and prices move in opposite directions.