MUMBAI: The rupee appreciated by 9 paise to 71.05 against the US dollar in early trade on Monday.
At the interbank foreign exchange, the rupee opened at 71.12, then gained momentum and touched a high of 71.05, registering a rise of 9 paise over its previous close.
The domestic unit pared some gains and was trading at 71.07 against the dollar at 0959 hrs.
On Friday, the rupee had settled at 71.14 against the US dollar.
According to provisional exchange data, foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 1,339.27 crore on Friday.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.07 per cent to 98.20.
Brent crude futures, the global oil benchmark, rose 1.09 per cent to trade at USD 59.28 per barrel.
Domestic bourses opened on a bullish note on Monday with benchmark indices Sensex trading 211.91 points higher at 37,562.24 and Nifty up 40.05 points at 11,087.85.
The 10-year government bond yield was at 6.59 per cent in morning trade.
With inputs from PTI