The currency started at 73.99 per dollar against previous close of 74.25.
The rupee on Wednesday opened 26 paise higher against dollar. The currency started at 73.99 per dollar against previous close of 74.25. On Tuesday, the rupee settled lower amid continued meltdown in equity markets and sustained foreign fund outflows.
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Oil prices, meanwhile, steadied on Wednesday after slipping to new four-year lows, sapped by fears for fuel demand and the global economy amid travel and social lockdowns triggered by the coronavirus epidemic.
Brent crude was up by 34 cents, or 1.2 percent, at $29.07 a barrel by 0238 GMT or 5:59 am, after falling earlier to $28.40, the lowest since early 2016. The international benchmark fell 4.3 percent on Tuesday.
(With inputs from Reuters)