Rupee vs dollar: Analysts will watch the outcome of the RBI's sixth bi-monthly policy closely The rupee edged higher against the dollar in morning trade on Wednesday.

The rupee appreciated by eight paise against the greenback to hit 71.49, compared with its previous close of 71.57.

Strength in the domestic equity markets, with the Nifty crossing the 11,000 mark for the first time in more than four months, boosted the rupee.

However, rising crude oil prices limited the upside.

The mild gain in the rupee comes a day after it closed 23 paise higher to break a two-day fall.