The Indian opened higher by 18 paise at 71.79 against US Dollar vs. previous close 71.97/$. The yield on the 10-year Indian government bond was at 6.52% compared with its previous close of 6.52%.
The dollar index, which measures the US currency’s strength against a basket of major currencies was down 0.03% at 98.138, from its previous close of 98.163.
The local unit on Thursday snapped 5-day losing streak and closed higher by 12 paise at 71.97 against the US dollar.
On the international front, US and China are getting close to a trade agreement, White House economic adviser Larry Kudlow reportedly said, citing what he called very constructive talks with Beijing about ending a 16-month trade war. Kudlow said negotiators for the world’s two largest economies were in close touch via telephone but he gave no further details on the timing of a possible deal, the media reports.
Meanwhile, oil prices gain as OPEC's outlook for oil demand next year fuelled hopes that the producer group and its associates will keep a lid on supply when they meet to discuss policy on output next month.