The rupee opened higher on Monday, appreciating 8 paise to 87.50 against the US dollar, supported by a weaker greenback.
Traders said the local currency is likely to trade within a range of 87.25–87.80 as markets adopt a wait-and-watch stance ahead of India and US CPI inflation data and the August 15 talks between the US and Russia.
At the interbank foreign exchange, the rupee began at 87.56 and touched an early high of 87.50, up from its previous close.