Rupee Continues Upward Trend Amid Weak Dollar and Lower Oil Prices

The Indian rupee has continued its upward trend, appreciating by 5 paise to 95.77 against the US dollar in early trade on Wednesday.

This marks the fourth consecutive day of a firm rupee amid a weak American currency and lower crude oil prices.

The local currency also found support from positive domestic equity market sentiment after foreign institutional investors turned to buying Indian stocks, according to forex traders.

Brent crude futures, the global oil benchmark, were trading 4.27 per cent higher but remained lower at USD 87.68 per barrel.