The rupee appreciated by four paise to 46.69 against the greenback in morning trade on mild selling of dollars from banks on hopes of capital inflow.
The Indian currency had slid two paise in early trade at 46.75 against the US dollar.
At the Interbank Foreign Exchange (Forex) market, the domestic unit opened steady at 46.72/73 per dollar against last weekend's close of 46.73/74 but edged up to 46.69 before being quoted at 46.73/74 at 1030 hours.
The Indian benchmark Sensex was down over 95 points or or 0.59 per cent in opening trade today.
Meanwhile, crude oil rose in Asian trade today as investors returned to the market after a massive sell-off triggered by weak US jobs data and debt woes in the euro zone, analysts said.
New York's main futures contract, light sweet crude for delivery in March, climbed 49 cents to $71.68 a barrel.
