The rupee also got support from positive local equities and capital inflows.
At the interbank foreign exchange market, the rupee opened a tad lower at 62.05 a dollar from last Friday's close of 62.04. It moved in a range of 61.8350 to 62.07 before ending above the 62 mark at 61.95, a gain of nine paise or 0.15 per cent.
The rupee was at the highest level since closing at 61.73 on December 16.
The dollar index, which tracks the US currency against a basket of six major global rivals, was down 0.10 per cent.
"The dollar index...Is trading weak for the second consecutive day, which helped the rupee to trade strong," said Pramit Brahmbhatt, CEO of Alpari Financial Services (India).
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%