The rupee inched up 2 paise to 71.22 against the $ in early trade on Friday amid a dip in crude oil prices and fresh foreign fund inflows.
At the Interbank Foreign Exchange (forex) market, the local unit opened almost flat at 71.23 and stayed in a narrow range.
The rupee had skidded by 13 paise to close at 71.24 against the $ on Thursday.
Foreign institutional investors (FIIs) net bought equities worth ₹ 55 crore Thursday while domestic institutional investors bought shares to the tune of ₹ 202 crore, provisional data showed.
Brent crude futures, the global oil benchmark, was trading 0.25 per cent lower at $ 66.90 per barrel.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, traded flat at 96.60.
Meanwhile, the benchmark BSE Sensex fell 56.40 points, or 0.16 per cent, to 35,841.95 in opening trade Friday.
