Indian rupee gained 27 paise a dollar in the opening session on Friday following a two-day decline amid weakness in greenback and oil prices.

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At 09:10 AM, the rupee was trading at 69.93 a dollar, up 27 paise from its Thursday’s close of 70.20. The home currency opened at 69.97 and touched a high and a low of 69.90 and 69.99 a dollar, respectively.

The rupee weakened for the second straight session Thursday, slipping by 2 paise to 70.20 against the US dollar on overseas fund outflows amid rising trade deficit worries.

Aiding the rupee sentiment was the dollar, which was on the defensive on Friday. The dollar index was marginally lower at 96.3. The index fell 0.56 percent in the previous session.

Oil prices also fell after the United States followed most other major economies into a manufacturing downturn, although supply cuts by producer club OPEC kept declines in check, reported Reuters.

International Brent crude futures were down 39 cents, or 0.7 percent, at 0155 GMT at $55.56 a barrel.

Meanwhile, foreign funds pulled out Rs 972.81 crore from the capital markets on a net basis Thursday, while domestic institutional investors bought equities to the tune of Rs 34.52 crore, provisional data showed.

In debt markets, the yields on the 10-year government bonds fell 0.26 percent to 7.41 percent from its previous close of 7.43 percent. Bond yields and prices move in opposite directions.

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