The Indian rupee opened higher by 11 paise at 71.68/$ vs. Friday's close of 71.79/$.
On Friday, the rupee gained 18 paise to close at 71.79/$ as crude oil prices eased and equity markets rose. However, the local unit slipped 50 paise to 71.79/$ in the last week compared to its closing of 71.29/$ in the week ending Nov 8.
Oil prices traded flat on Monday as investors sought news on the US-China trade deal.
Meanwhile, Asian markets are trading mixed even as shares in Hong Kong rebound amid the continuing unrest.
Indian benchmark equity indices are trading higher in early trade, with the Sensex and Nifty both up by 0.3%.
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