On Friday, the rupee had lost 25 paise to close at 74.15 against the US dollar.
The Indian rupee was trading in a narrow range in morning trade on Monday as a rise in crude oil prices negated the positive domestic equities impact.
At the interbank foreign exchange, the rupee opened at 74.18 against the US dollar, then declined by 1 paise to 74.16 against the US dollar.
On Friday, the rupee had lost 25 paise to close at 74.15 against the US dollar.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading unchanged at 95.16.
Reliance Securities said in a research note that the Indian rupee opened weak against the dollar and strengthened the greenback and strengthened bond yields.
Besides, firming crude oil and a weak opening amongst Asian and emerging market peers could also weigh on the local unit this Monday.
On the domestic equity market front, the 30-share Sensex was trading 40.37 points or 0.07% higher at 61,263.40, while the broader NSE Nifty was trading 22.05 points or 0.12% higher at 18,277.80.
Global oil benchmark Brent crude futures rose 0.06% to $86.11 a barrel.
Foreign institutional investors were net sellers in the capital markets on Friday as they sold shares worth Rs 1,598.20 crore, according to stock exchange data.
,