In the interbank foreign exchange market, the local unit opened at 72.57.
The rupee opened 3 paise down at 72.56 against the US dollar in early trade on Friday as it impacted investor sentiment in the domestic stock markets.
However, the foreign dealer said that persistent foreign fund inflows and weak dollar overseas supported the rupee.
In the interbank forex market, the local unit opened at 72.57 against the US dollar, then recovered some ground to bid at 72.56, a drop of 3 paise from the previous close.
The rupee had closed at 72.53 against the US currency on Thursday.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 243.44 points lower at 48373.08, and the broader NSE Nifty fell 74.30 points to close at 14,483.55 in early deals.
Meanwhile, the dollar index, which estimates the strength of the greenback against a basket of six currencies, fell 0.05% to 91.81.
Brent crude, the global oil benchmark, was up 0.32% at US $ 63.48 a barrel.
Foreign Institutional Investors (FIIs) were net buyers in the capital market on Thursday as they had bought 8,258.47 crore shares as per exchange data.
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