Rupee on Thursday opened higher at 71.48 versus previous close of 71.53 per dollar on Wednesday.
On December 4, the rupee ended higher by 13 paise on improved sentiment about US-China trade deal.
Oil prices in today's trading session declined ahead of the OPEC meet which is scheduled for today during the later part of the day. On Wednesday, crude gained on the back of a sharp decline in US crude inventories as well as expectations of output cut.
In the bond market, yield on 10-year benchmark bonds stood at 6.46%.
Traders remain watchful of the RBI monetary policy statement due today.
Ahead of the RBI meet, indices opened positive with Sensex trading higher by 61.55 points at 40911.8, while Nifty was up 14.70 points or 0.12% at 12057.90.