The Indian Rupee gained 20 paise to reach 94.25 against the US Dollar in early trade.
Easing Brent crude oil prices, which fell to around USD 72 per barrel, supported the currency's recovery.
India's forex reserves rose by USD 963 million to reach USD 672.587 billion as of June 19.
Market analysts identified a strong support zone for the rupee between 93.50 and 94.10.