Rupee opens 38 paise lower at 71.93 against dollar

The Indian rupee opens 38 paise lower against dollar on Friday. The domestic currency started at 71.93 per dollar against Thursday's close of 71.55.

Global oil prices fell for a sixth straight session on Friday and were on track for about a 12 percent weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.

The virus, which has killed more than 2,700 people in China, has been found in another 46 countries and caused 57 deaths. Investors worry the epidemic could turn into a pandemic and deliver a damaging blow to the global economy.