The local unit opened 15 paise higher at 74.40 per dollar against the previous close of 74.55. It traded in the day’s range of 74.19 - 74.96 on Thursday.
The rupee plunged to a four month-low during trade on Wednesday after the Reserve Bank of India's (RBI) policy announcement. The Indian currency fell 1.5% to 74.55 against the U.S. dollar, witnessing biggest one-day drop seen since August 2019.
Oil benchmark Brent Crude was trading 0.70% lower at USD 62.72 per barrel.