The Indian rupee strengthened by 4 paise, reaching 83.14 against the US dollar in early trade on Wednesday. The positive trend was fueled by robust domestic equity investments, boosting investor confidence.
Despite opening flat at 83.18, the local currency showed resilience. The dollar index, measuring the greenback's strength against six currencies, inched 0.05% higher.
However, the rupee's gains were limited by a stable greenback globally, influenced by rising crude oil prices due to geopolitical concerns. The BSE Sensex and NSE Nifty also demonstrated upward movements in the domestic equity market.