The rupee stayed firm for the seventh consecutive session and gained 2 paise to 83.01 against the US dollar in early trade on Thursday boosted by a weak American currency and softening crude oil prices.
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Sustained buying in the domestic equity markets also supported the Indian currency even as investors were awaiting US inflation data to be released later in the day, forex traders said.
At the interbank foreign exchange, the domestic currency opened at 83.05 and slipped to 83.06 against the greenback for a while. It later traded at 83.01, registering a gain of 2 paise from its previous close.
The domestic currency settled 10 paise higher at 83.03 on Wednesday.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent lower at 101.98 on Thursday.
Brent crude futures, the global oil benchmark, advanced 0.33 per cent to $77.05 per barrel.
In the domestic equity market, 30-share benchmark Sensex was trading 271.40 points, or 0.38 per cent, higher at 71,929.11. The broader Nifty rose 78.25 points, or 0.36 per cent, to 21,696.95.
Foreign institutional investors (FIIs) sold shares worth ₹1,721.35 crore on Wednesday, according to exchange data.