The rupee pared initial gains to settle almost flat at 71.71 against the US dollar on Monday as rising crude oil prices kept investors edgy.
At the interbank foreign exchange market, the local unit witnessed heavy volatility. During the day, the domestic unit shuttled between a high of 71.50 and low of 71.73.
The rupee finally settled at 71.71, higher by just 1 paisa over its previous close. The rupee has extended gains for the fourth day in a row. The rupee had settled at 71.72 against the US dollar on Friday.