The Indian rupee gained 13 paise and touched 74.25 against the US dollar in early trade on Thursday, supported by a firm trend in domestic equities and weak American currency. At the interbank foreign exchange, the domestic unit opened at 74.32 against the dollar, then inched higher to 74.25, registering a gain of 13 paise over its previous close.

On Wednesday, the rupee had settled at 74.38 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.18 per cent down at 92.16. The Indian rupee started on a stronger note this Thursday morning against the greenback as the US central bank said that it was still a ways away from considering raising interest rates, Reliance Securities said in a research note.