The rupee appreciated 6 paise to 74.29 against the US dollar in early trade on Wednesday as strong buying in domestic equities and weakness in American currency overseas strengthened investor sentiment.

However, high crude prices in the international market and foreign capital outflows restricted the rupee rise, forex dealers said. At the interbank foreign exchange, the rupee opened strong at 74.30 against the dollar, then gained further ground to 74.29, a rise of 6 paise over its previous close.