The rupee opens 30 paise higher at 76.56 per dollar on Friday against Thursday's close of 76.86. The Indian rupee had tanked to settle at an all-time low of 76.86 against the dollar on Thursday, amid rising concerns over coronavirus-led economic slowdown.

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Indian indices, meanwhile, started with a substantial rally on Friday following gains in Asian peers and the RBI Governor's address at 10 am. The global sentiment was uplifted after a report said that Gilead drug was showing effectiveness against coronavirus, which cheered investors sentiment resulting into strong buying in the capital markets.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 2.6 percent after reaching a five-week high.

Oil prices rose on Friday with brent gaining nearly 3 percent after President Donald Trump laid out guidelines on reviving a US economy ravaged by the coronavirus pandemic that has punched a huge hole in global demand for crude and refined products.

Brent was up by 75 cents, or 2.7 percent, at $28.57 a barrel by 0058 GMT or 6:28 am IST.

(With inputs from Reuters)

First Published:Apr 17, 2020 10:08 AM IST