The rupee rallied for the fourth straight session and rose 10 paise to 85.54 against the US dollar in early trade on Thursday amid a renewed inflow of foreign funds in domestic equities and a weak American currency.
However, subdued equity market sentiment and a slight recovery in crude oil prices put the local currency under pressure, according to forex traders.
At the interbank foreign exchange, the domestic unit opened at 85.48 and slipped to 85.54 against the greenback in early deals, trading 10 paise higher from its previous closing level. PTI