Rupee opens flat at 71.30 against USD in early trade

The Indian rupee opened on a steady note at 71.30 against the US dollar in early trade on Friday, a day after the the Reserve Bank of India kept key policy rate unchanged and decided to continue with its accommodative stance to support the economy.

Mumbai: The Indian rupee opened on a steady note at 71.30 against the US dollar in early trade on Friday, a day after the the Reserve Bank of India kept key policy rate unchanged and decided to continue with its accommodative stance to support the economy.

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Forex traders said, the domestic unit was trading in a narrow range as investors are awaiting fresh cues on the US-China trade front. At the interbank foreign exchange the rupee opened at 71.30. The local unit fluctuated between a high of 71.27 and a low of 71.34 in early trade.

On Thursday, the rupee had settled for the day at 71.29 against the US dollar. Meanwhile, domestic bourses opened on a positive note on Friday with benchmark indices Sensex trading 99.17 points higher at 40,878.76 and Nifty up 21.80 points at 12,040.20.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.04 per cent to 97.37.

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Brent crude futures, the global oil benchmark, fell 0.46 per cent to trade at USD 63.10 per barrel. (PTI)