At the interbank foreign exchange market, the local unit opened at 83.52 and gained further to 83.48 against the greenback, registering a rise of 7 paise from its previous close.

On Friday, the rupee settled 1 paisa lower at 83.55 against the US dollar.

Forex markets were closed on Monday on account of Bakri Id.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 105.01, higher by 0.07 per cent.

Brent crude futures, the global oil benchmark, declined 0.13 per cent to USD 84.14 per barrel.

On the domestic equity market, the 30-share BSE Sensex rose 175.72 points, or 0.23 per cent, to 77,168.49 points. The broader NSE Nifty climbed 45.15 points, or 0.19 per cent, to 23,510.75 points.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday, as they purchased shares worth Rs 2,175.86 crore, according to exchange data.