The rupee appreciated by 39 paise to 84.18 against the US dollar in early trading on Monday, buoyed by sustained foreign investor interest in Indian assets, which provided underlying support to the local currency.
According to forex traders, a sharp drop in crude oil prices, along with a positive trend in domestic equities, boosted investor sentiment.
Brent crude prices fell by nearly 4% during morning trade in Asia after OPEC+ indicated over the weekend that it plans to ramp up production in the coming months.