The Indian rupee started on a flat note this Friday against the greenback and inched 4 paise higher to 74.14 against the US dollar in early trade tracking a muted trend in the domestic equity market. At the interbank foreign exchange, the domestic unit opened at 74.15 against the dollar, then inched higher to 74.14, registering a gain of 4 paise over its previous close. The local unit also witnessed a low of 74.19 in initial deals.

On Thursday, the rupee had settled at 74.18 against the US dollar. Global oil benchmark Brent crude futures rose 0.16 per cent to USD 75.68 per barrel. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent down at 91.76. Asian currencies have started flat to marginally stronger against the greenback this Friday morning and could cap weakness, however, firm crude oil prices could cap appreciation bias, Reliance Securities said in a research note.