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The rupee edged up 4 paise to 63.71 against the US dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the American currency by exporters amid higher foreign funds inflow.
Forex dealers said a weakening dollar against other currencies overseas and a higher opening in the domestic equity market supported the rupee.
The rupee had closed barely steady at 63.75 against the US dollar in yesterday's trade on fresh selling of the greenback by banks and exporters amid sustained foreign capital inflows into equities.
The benchmark BSE Sensex rose further 91.32 points, or 0.32%, to 28,314.40 in early trade today.
