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The rupee was trading higher by 15 paise at 66.39 in the evening session on increased dollar selling by banks and exporters amid continued foreign fund inflows.
According to forex dealers, the rupee sentiment was buoyed as the dollar weakened against its rivals overseas after the US Federal Reserve Chair Janet Yellen signalled that a rate hike was not likely before June.
Besides, a strong domestic equity market supported the rupee, they added.
Extending its rising streak for the fourth day, the rupee appreciated by 16 paise to 66.38 against the US dollar in early trade.
It hovered in a range of 66.50 and 66.32 before being quoted at 66.39 at 4.50 pm local time.
Yesterday, the rupee had gained three paise to close at 66.54 at the Interbank Foreign Exchange on persistent selling of dollars by banks and exporters in view of heavy capital inflows from foreign funds.
Meanwhile, the benchmark BSE Sensex ended the session higher by 438.12 points or 1.76 per cent to 25,338.58.
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