The Indian rupee opened on a flat note and inched 4 paise higher to 74.39 against the US dollar in opening trade on Wednesday, amid a negative trend in domestic equities. At the interbank foreign exchange, the rupee opened at 74.43 against the dollar, then inched 4 paise higher to 74.39.

On Tuesday, the rupee had settled at 74.43 against the US dollar. Global oil benchmark Brent crude futures fell 0.25 per cent to USD 70.45 per barrel. Meanwhile, the dollar index, which gauges the greenback''s strength against a basket of six currencies, was up 0.03 per cent at 93.08. Forex traders said foreign fund outflows and a negative trend in domestic equities is likely to weigh on the local unit.