The Indian rupee opened flat at 64.45 per dollar on Monday against Friday's close 64.45.

Pramit Brahmbhatt of Veracity said, "Rupee will appreciate on the back of positive cues from domestic equity market. Thus the trading range for the spot USD-INR pair would be 64.20-64.80."

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In the currency space, the dollar was steady in early trade today, underpinned by expectations of higher US interest rates, while Bitcoin seized the spotlight as futures of the cryptocurrency began trading.

Ajay Manglunia of Edelweiss said, "The positivity following the monetary policy review was very short lived and gilt yields have touched fresh highs as the appetite remains poor. Bond markets are expected to begin this week on a watchful note with the inflation data release and US Fed meeting scheduled for the middle of the week."

"As the result, activity might be subdued today and the 10-Year benchmark may trade in a narrow range of 7.07-7.11 percent today," he added.