The Indian rupee opened higher on Monday at 71.69 per dollar vs. Friday's close of 71.71 per dollar.
The local unit on Friday closed higher by 5 paise at 71.71 against the US dollar.
Meanwhile, gold prices touched their lowest in a week as positive developments towards an interim trade deal between the United States and China lifted demand for riskier assets and boosted the dollar.
Further, India's forex reserves rose by $441 mn to a fresh lifetime high of $448.249 bn in the week to November 15, as per RBI data showed on Friday.
As per provisional data available on the NSE, foreign institutional investors (FIIs) bought shares worth Rs305.72cr, whereas domestic institutional investors (DIIs) sold shares of worth Rs177.37cr in the Indian equity market on November 22.
Back home, the Indian stock market opened higher on firm global cues. The Sensex rose 245 points at 40,604, and the Nifty up 62 points at 11,977.
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