In view of the weakness of the US currency in the overseas market, the rupee rose 10 paise to 74.59 against the US dollar in early trade on February 8.
However, gains in the rupee were restricted amid a rise in crude oil prices and a softening in domestic equity markets.
At the interbank forex, the rupee opened at 74.65, then advanced to touch 74.59 against the US dollar and register a rise of 10 paise from the previous close.
In the previous session, the rupee had closed at 74.69 against the greenback on Friday.
The forex market had closed on 7 February.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.13% higher at 95.52.
On the domestic equity market front, the 30-share Sensex was trading 87.65 points or 0.15% lower at 57,533.54, while the broader NSE Nifty was trading 30.70 points or 0.18% lower at 17,182.90.
Global oil benchmark Brent crude futures fell 0.37% to $92.35 a barrel.
Foreign institutional investors were net sellers in the capital market on February 7 as they sold shares worth 1,157.23 crore, according to stock exchange data.
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