The dollar index was down 0.07 per cent against a basket of six major global currencies.
Foreign Institutional Investors bought shares worth Rs 1,253.65 crore on Monday as per provisional stock exchange data.
The rupee had shed 5 paise to close at 54.33 in the previous session on Friday's trade.
Rupee lost its gains due to renewed demand for the US currency from banks and importers amid firm global cues.
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