New Delhi: The rupee rose by 7 paise to close at 81.52 against the US currency in a restricted trade on Monday, supported by a weak greenback in the overseas markets and a decline in crude oil prices.
At the interbank foreign exchange market, the local unit opened lower at 81.69 and touched a low of 81.72 against the US dollar in line with losses in the equity markets.
Later, the indian currency recovered ground and touched a high of 81.49 before settling at 81.52, shoing gains of seven paise over the previous close of 81.59 on Friday.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, declined 0.16 per cent to 101.76.
According to Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas, a weak Dollar index and a decline in crude oil prices cushioned the downside.
Further, FPO-related foreign inflows also supported the rupee at lower levels, he said.