The rupee is trading at 61.99/62.01 versus its close of 62.12/13 on Friday, helped by gains in the domestic sharemarket and some dollar inflows.
Traders say two foreign banks were seen selling the greenback, pushing the pair below the 62 mark, but good buying was seen from importers around those levels.
The BSE Sensex is up 0.4%, touching its highest intra-day level since January 29.
The rupee is seen holding in a 61.90 to 62.20 range for the rest of the session.
