India, Oct. 23 -- The rupee traded in a narrow range and edged up 3 paise to 94.78 against the US dollar in early trade on Friday amid elevated crude oil prices and foreign fund outflows.

Forex traders said the rupee is under pressure amid persistent macroeconomic headwinds, including global dollar strength and Brent crude prices hovering near $113 per barrel.

At the interbank foreign exchange market, the rupee opened at 94.78, registering a gain of 3 paise over its previous close.

On Thursday, the rupee closed at 94.81 against the American currency.

Foreign investors turned cautious, seeking safe-haven greenback assets amid elevated US Treasury yields, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury...