Rupee vs US Dollar: INR rises 10 paise versus USD

The rupee gained 10 paise from its previous close to 82.55 versus the US dollar on Monday. The dollar index — which measures the American currency against the yen, the pound, the Canadian dollar, the Swedish krona, the Swiss franc and the euro — was last trading flat at 104.

Crude oil benchmarks eased early on Monday, but trade remained choppy. At the last count Brent crude futures were trading 0.12 percent lower at $83.85 per barrel. WTI futures, too, were trading flat at $79.83 per barrel.

"Following a three-day rally, the Indian rupee reversed its upward momentum and closed lower on Friday. Nonetheless, it marked its most successful week in a month and a half, mainly attributed to the efforts of the Reserve Bank of India (RBI) to limit arbitrage trading activities between the onshore and offshore markets by disallowing, specific banks from initiating new arbitrage positions in the non-deliverable forwards (NDF) market," said Amit Pabari of CR Forex.