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The rupee pared its initial losses to settle marginally up by 1 paisa at 74.87 (provisional) against the US dollar on Monday following a firm trend in the domestic equities.
At the interbank foreign exchange market, the domestic unit opened on a weak note and slipped below the 75 per dollar mark. The rupee touched a low of 75.04 and a high of 74.84 during the day before closing at 74.87, up 1 paisa from its last close.
On Friday, the rupee had closed at 74.88 against the US dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.02 per cent to 94.14.
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