USD/INR closed at 69.67 against its opening at 69.75. USD/INR ends up on Monday on dollar demand ahead of FX swap auction on Tuesday amid higher Brent oil prices.
The Reserve Bank of India is scheduled to conduct $5 billion dollar-rupee swap auction on Apr 23 following the success of the first round last month. Forex swaps will help inject liquidity and boost India's forex reserve.
Adding to that, crude oil futures is trading high on reports the US will end Iran oil sanction waivers. US Baker Hughes oil rigs count also fell to 825 compared to 833 of its previous release.Brent futures for June delivery traded 2.99% up at $74.12 a barrel on Monday.
Meanwhile, the dollar index, which tracks the movement of greenback against a basket of six major currencies, traded at 97.37 Monday compared to 97.33 at close of Indian market on Friday.The greenback edged up in thin post-holiday trade after positive US economic data.
Sensex provisionally ends 491 points lower with 25 components in the red.