The Indian rupee opened lower by 15 paise at 74.06 per dollar versus on Monday against Friday's close 73.91.
After hitting a record low of 74.50, the rupee bounced sharply and ended higher by 30 paise at 73.91 against the US currency on Friday after the Reserve Bank's assurance that steps will be taken to maintain sufficient liquidity in the panick-stricken currency market.
The dollar fell against a broad range of currencies on Monday after the US Federal Reserve made another surprise interest rate cut and major central banks took steps to relieve a shortage of dollars and provide extra liquidity.
Oil extended losses as an emergency rate cut by the US Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus while a price war rages on between top producers.
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