The rupee trades at 61.7575/7675 versus its Friday's close of 61.7625/7725. The Indian unit earlier rose to 61.6550.
Traders say good demand for the dollar from state-run banks offsetting foreign fund inflows.
Dealers expect the rupee to hold in a 61.65 to 61.85 range during the rest of the session.
Fund flows into the share market will be crucial for direction. Nifty trading up 0.3 percent.
Aian shares broadly higher on prospects of further policy stimulus in China and Europe.
Most Asian currencies also trading stronger compared to the dollar.
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(Reporting by Swati Bhat)
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