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

On Thursday, the rupee had settled for the day at 71.29 against the US dollar.Traders said positive opening in domestic equities, easing crude oil prices and fresh foreign fund inflows supported the domestic currency.

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.

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.