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However, rising crude prices in the international market and foreign fund outflows capped the rupee gains, forex traders said.
At the interbank foreign exchange, the rupee opened strong at 74.27 against the dollar, then lost some ground to quote 74.26, registering a rise of 13 paise over its previous close.
On Friday, the rupee had settled at 74.39 against the US dollar.
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The US dollar was struggling against its major rivals in the overseas market.
The dollar index, which gauges the greenback”s strength against a basket of six currencies, slipped 0.20 per cent to 93.30.
Global oil benchmark Brent crude futures surged 1.93 per cent to USD 66.44 per barrel.
Meanwhile, foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 2,287.03 crore, as per exchange data.