The rupee traded in a narrow range and settled on a flat note at 81.92 (provisional) against the US dollar amid rising crude oil prices and foreign fund outflows.

At the interbank foreign exchange market, the local unit opened at 81.95 against the US currency and finally closed at 81.92 (provisional) against the greenback, unchanged from its previous close.

During the session, the rupee touched a high of 81.86 and a low of 81.96 against the dollar.

The rupee on Monday settled at 81.92 against the US dollar.

According to Jateen Trivedi, VP Research Analyst at LKP Securities, the rupee traded range bound near 81.90 as the dollar index was in the consolidation range.

"The rupee replicated peers by staying in the range of 81.85-81.95. The US GDP data is the next key trigger for the traders to watch out for, till then the range for the rupee can be seen in 81.75 - 82.10," Trivedi said.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.06 per cent to 101.40.

Global oil benchmark Brent crude futures declined 0.39 per cent to $82.41 per barrel.

On the domestic equity market front, the 30-share BSE Sensex advanced 74.61 points or 0.12 per cent to end at 60,130.71 points and the broader NSE Nifty gained 25.85 points or 0.15 per cent to 17,769.25 points.

Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth ₹412.27 crore, as per exchange data.