The rupee had closed at 75.37 against the US currency on October 13.
The Indian rupee rose 12 paise to 75.25 against the US dollar in early trade on October 14, fueled by heavy buying in domestic equities and fresh foreign fund inflows.
Forex dealers said weakness in the US currency in the overseas market also helped the domestic unit.
However, higher crude oil prices prevented the rupee from gaining momentum, he said.
At the interbank foreign exchange, the domestic unit strengthened at 75.27 against the US dollar, then moved up by 12 paise to 75.25 against the previous close.
In opening deals, the rupee was trading in a range of 75.25 and 75.27 with a positive bias against the greenback.
The domestic had closed at 75.37 against the US currency on October 13.
On the domestic equity market front, the BSE Sensex was trading 327.18 points or 0.54% higher at 61,064.23, while the broader NSE Nifty rose 114.05 points or 0.63% to 18,275.80.
Foreign institutional investors emerged as net buyers in the capital market on October 13 as they bought shares worth ₹937.31 crore, according to exchange data.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.03% to 94.05.
Global oil benchmark Brent crude futures rose 0.70% to $83.76 per barrel.
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