The Indian rupee was up by 5 paise at Rs. 44.98 per US dollar in early trade on the Interbank Foreign Exchange on Wednesday on fresh foreign fund inflows amid a firming trend in the equity market.

The Indian rupee was up by 5 paise at Rs. 44.98 per US dollar in early trade on the Interbank Foreign Exchange on Wednesday on fresh foreign fund inflows amid a firming trend in the equity market.

The rupee had closed flat at 45.03/04 against the US currency on Tuesday on alternate bouts of buying and selling.

Forex dealers said the higher opening in the stock market and some strength in the euro overseas mainly helped the rupee to rise against the US dollar in early trade.

More In: Markets | Business