The rupee on Monday erased initial gains and ended flat at 71.71/$ on Monday owing to rising crude oil prices.
Higher crude oil prices on easing trade tension worries as well as foreign fund outflows dragged the local unit.
Meanwhile, Indian benchmark indices opened higher tracking positive global cues. The Sensex is currently 138 points higher, while the Nifty is above its key level of 11,000, up 36 points.
The dollar index, which measures the greenback's strength against a basket of currencies, was trading at 98.373.
Asian stocks traded mixed after China agreed to raise US Agri purchases on condition that the US would relax tarriffs.
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