The rupee had on Friday settled at 69.70 against the US dollar The rupee rose against the US dollar for a second straight day on hopes of a rate cut by the Reserve Bank of India.
The rupee climbed by 44 paise or 0.6 per cent to end at 69.26 against the greenback on Monday, news agency Press Trust of India reported.
The rise was in line with a rally in domestic equities amid hopes of a rate cut by the RBI after India's economic growth slowed to 5.8 per cent in last quarter of financial year 208-19, according to the agency.
The domestic currency opened strong at 69.48 and rose to an intraday high of 69.10 at the forex market.
It had settled at 69.70 against the dollar on Friday.