The rupee strengthened by 33 paise to 73.33 against the US dollar in opening trade on Friday as weakness in the American currency overseas and positive domestic equities buoyed investors' sentiment. At the interbank forex market, the rupee opened at 73.47 against the US dollar, and gained further to 73.33, registering a rise of 33 paise over its previous close.
On Thursday, the rupee had depreciated by 14 paise to end at 73.66 against the US dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.07 per cent to 92.90.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 249.82 crore on a net basis on Thursday, according to exchange data.
Brent crude futures, the global oil benchmark, rose 0.55 per cent to $43.54 per barrel.