The rupee pared initial gains and settled for the day in the negative territory, slightly down by 1 paisa at 89.68 against the US dollar on Monday, as the support from positive domestic equities was negated by a recovery in crude oil prices.
Forex traders said the lack of progress in the US-India trade negotiations weighed on the sentiment, while a weak tone in the US dollar index supported the domestic unit at lower levels.
At the interbank foreign exchange, the rupee opened at 89.53 against the greenback, then touched an intra-day high of 89.45, registering a 22-paise gain from its previous close.
At the end of the trading session on Monday, the rupee was quoted at 89.68, down 1 paisa from its previous close.
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