The rupee rose by 17 paise to close at a nearly two-month high of 74.22 against the US dollar on Monday, supported by a firm trend in domestic equities and weak American currency overseas.
However, surging crude prices in the international market restricted the rupee’s gain, forex traders said.
At the interbank forex market, the local unit opened strong at 74.27 against the greenback and moved in a range of 74.22 to 74.30 in the day trade.