The rupee opened 17 paise lower against dollar on Thursday. The currency started at 73.37 per dollar versus previous close of 73.20. On Wednesday, the rupee swung wildly before closing flat at 73.20 against the US currency as increasing number of coronavirus cases in India kept investors on edge despite a rate cut by the US Federal Reserve.

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29 positive cases of coronavirus have been detected so far in India.

Asian shares, meanwhile, rallied for a fourth straight session on Thursday as US markets swung sharply higher and another dose of central bank stimulus offered some salve for the global economic outlook.

Wall Street seemed to find relief in the strong performance of former Vice President Biden in the Democratic nomination campaign.

Oil prices rose more than 1 percent on Thursday, recouping losses from the previous day on a smaller-than-expected rise in crude oil inventories in the United States, although the gains were capped by uncertainties over cuts by major oil producers.

First Published:Mar 5, 2020 9:19 AM IST