The rupee furthered its loss by 7 paise to trade at 73.38 against the US dollar in opening deals on Friday, reeling under pressure from a rebound in the American currency against key rivals and rising crude oil prices.
At the interbank foreign exchange market, the Indian unit traded in a small range of 73.35-73.39 in early deals.
The rupee had closed 20 paise lower at 73.31 a dollar on Thursday.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 89.85.
Global crude oil benchmark Brent was trading higher by 0.17 per cent at $54.61 per barrel.
Foreign investors bought shares worth Rs 382.30 crore on a net basis on Thursday, according to exchange data.