The rupee opened slightly lower against the US dollar on Friday, after rising consecutively in the past two sessions, in which it appreciated by 55 paise.

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At 09:06 AM, the rupee was trading at 71.86 a dollar, up x paise from its Thursday’s close of 71.84. The home currency opened at 71.87 and touched a high and a low of 71.84 and 71.89 a dollar, respectively.

In the currency market, the dollar advanced on Friday as concerns over the global growth slowdown eased following encouraging US economic data.

Separate surveys suggested the world’s largest economy is in better shape than investors had feared. US service sector activity accelerated in August and private employers boosted hiring beyond expectations, reported Reuters.

The dollar recouped some losses against the Australian and New Zealand dollars and against a basket of currencies clambered off a one-week low to hold flat around 98.419.

In the commodity markets, oil prices edged higher on Friday, with crude benchmarks poised for multi-week gains amid a sharp drawdown in US crude inventories.

International Brent crude was up 3 cents at $60.98 a barrel, as of 0144 GMT, while US West Texas Intermediate (WTI) crude was up 8 cents at $56.38.

Foreign institutional investors (FIIs) remained net sellers in the capital market, pulling out Rs 561.17 crore on Thursday, according to provisional exchange data.

In debt markets, the yields on the 10-year government bonds were up 0.32 percent at 6.60 percent from the previous close of 6.58 percent. Bond yields and prices move in opposite directions.