Rupee opens almost unchanged at 71.30, a tad higher by 2 paise as against previous day's close of 71.32 per US dollar.
On Thursday, global rating agency S&P reaffirmed 'BBB' rating for India's sovereign credit rating with a stable outlook. The agency also pointed out the higher levels of fiscal deficit as well as increased indebtedness of the country.
Oil prices today increased amid anticipation of steeper production cuts by major oil producers even as they largely ignored estimation of slump in demand due to coronovirus outbreak in China, the world's second largest consumer of crude.
In the bond market, the yield on 10-year benchmark bonds came in at 6.42%.
Meanwhile, Indian indices started on a positive with Sensex climbing 200 points to 41664 while Nifty topped levels of over 12200 points.