On the Multi Commodity Exchange, crude for delivery in December traded higher by Rs 18, 0.45 per cent, to Rs 4,026 per barrel.
Forex traders said, the domestic unit is trading in a narrow range ahead of the RBI monetary policy decision on Thursday.
The local unit gathered strength anticipating further easing in key rates to boost the slowing economy.
Positive opening in domestic equities supported the rupee and restricted the fall.
Forex traders said rupee is trading in a narrow range as investors are also awaiting clarity on the US-China trade front.
Forex traders said, the domestic unit was trading in a narrow range as investors await clarity on the US-China trade front.
Forex traders said the rupee appreciated for the second straight day on foreign inflows in primary as well as secondary equity market.
Forex traders said easing crude oil prices supported the rupee.
In a fillip to forex markets, foreign investors continued with their bullish outlook and bought equities worth Rs 960.90 crore.
The rupee moved up to trade at 71.66 following strong gains in equity markets.