Rupee Reaches Four-Day High Against Dollar Amid Weak US Currency

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

This marks the fourth consecutive day of a firm rupee, with support coming from a weak American currency and lower crude oil prices.

The local currency also found strength in the domestic equity market, which saw foreign institutional investors buying Indian stocks.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading down 0.12 per cent at 101.14 ahead of the Federal Reserve monetary policy announcements.