Rupee strengthens 14 paise to 94.61 against U.S. dollar in early trade

The Indian rupee strengthened by 14 paise to 94.61 against the U.S. dollar in early trade on Wednesday, supported by receding crude oil prices and foreign fund inflows.

During early transactions in the interbank foreign exchange market, the local currency touched an intraday high of 94.50 against the greenback.

Foreign Institutional Investors purchased equities worth ₹6,836.81 crore on Tuesday, making them net buyers for the third consecutive day.