Traders said rupee is trading in a narrow range as market is awaiting fresh cues on the potential US-China trade deal.
At the interbank foreign exchange the rupee opened at 70.79, then gained further and touched a high of 70.70.
The gains in the rupee were capped by crude oil hitting the USD 60 per barrel mark, forex brokers said.
After opening on a flat note, the rupee lost some ground as the morning trade progressed.
Foreign fund inflows also supported the local currency, a forex trader said.
At the interbank foreign exchange, the rupee opened at 71.60 then fell to 71.71 against the US dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.05 per cent to 98.40.
Foreign fund inflows and easing crude prices supported the local currency.
At the interbank foreign exchange the rupee opened at 70.82, then gained further ground and touched a high of 70.80.
The rupee opened at 70.96, then gained further ground and touched a high of 70.87.