The Indian rupee appreciated 9 paise to 82.95 against the US dollar (23.04 against the UAE dirham) in early trade on Thursday as market participants remained cautious ahead of the interim budget.
Forex traders said the rupee was trading in a narrow range as the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on investor sentiments.
At the interbank foreign exchange, the rupee opened at 83.02 against the dollar and then touched a high of 82.95, registering a gain of 9 paise over its previous close.