MUMBAI: The rupee appreciated by 16 paise to 68.53 against the US dollar in opening trade on Monday.
The rupee opened strong at 68.59 at the interbank forex market then gained further ground to touch 68.53 per dollar, displaying gains of 16 paise over its previous close.
On Friday, the rupee had settled at 68.69 against the US dollar.
Brent crude, the global benchmark, was trading at 66.64 per barrel lower by 0.12 per cent.
As per provisional data, Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 850.11 crore on Friday.
The benchmarks BSE Sensex opened on a positive note and was trading with gains of 138.45 points, or 0.36 per cent to quote at 38,874.68.
Meanwhile, the NSE Nifty was trading at 11,584.05, up 31.55 points, or 0.27 per cent.
With inputs from PTI