Domestic unit was trading in a narrow range as investors are awaiting fresh cues on the US-China trade front.
The local unit gathered strength anticipating further easing in key rates to boost the slowing economy.
Positive opening in domestic equities supported the rupee and restricted the fall.
At the interbank foreign exchange, the rupee opened at 71.77, showing a decline of just 1 paise over its previous closing.
At the interbank foreign exchange, the rupee opened at 71.83 then fell to 71.89 against the US dollar.
Positive opening in domestic equities and easing crude oil prices supported the domestic unit.
Trading in emerging market currencies were subdued tracking cautious opening in domestic equities.
At the interbank foreign exchange, the rupee opened marginally higher at 72.05 against the US dollar.
The Indian currency was trading 57 paise lower at 72.04 against the US dollar at 1548 hours.
Rupee is trading at 71.77 against dollar amid rising concerns over the US-China trade deal.