The Indian rupee opened lower on Friday. It fell as much as 51 paise to touch 76.06 per dollar against Tuesday's close of 75.55. Forex markets were closed on Wednesday and Thursday for the annual closing of banks and Ram Navami respectively.

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Oil prices, meanwhile, fell on Friday, coming off their biggest one-day gains in the previous session after US President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce US production.

Brent crude futures fell 3 percent, or 9 cents, to $29.05 as of 0127 GMT, after having soared 21 percent on Thursday.

Asian markets on Friday looked to latch onto Wall Street's overnight gains, helping offset concerns about the depth of a global recession.

Despite the rally in stocks, investors still sought the safety of the U.S. dollar and government bonds as an unprecedented number of Americans - 6.6 million - filed jobless claims due to coronavirus-induced lockdowns, as economic concerns stayed front and center.

(With inputs from Reuters)

First Published:Apr 3, 2020 9:37 AM IST