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At 3.30 pm, the rupee was quoted at 71.61, up by 32 paise against the US dollar on Monday at the interbank foreign exchange.
In early trades, fresh demand for the American currency from importers amid rise in crude prices weighed on the domestic unit. However, weakness in the US dollar against some currencies in global market and a higher opening of the domestic equity markets helped the rupee to move ahead, dealers said.
Finance Ministry nominees and some independent directors are expected to take on Governor Urjit Patel and his team later in the day over issues ranging from micro, small and medium enterprises (MSME) credit to the central bank’s reserves, though both sides are in favour of reaching a common ground.
Meanwhile, the international benchmark, Brent crude was trading higher by 0.72 per cent to $67.40 per barrel.
The rupee on Friday strengthened by 4 paise to close at a fresh two-month high 71.93 against the US currency. Foreign institutional investors (FIIs) bought shares worth Rs 844.82 crore on Friday, as per provisional data.
The benchmark BSE Sensex was trading 283.07 points, or 0.80 per cent, higher at 35,740.23 in late session.
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