The rupee consolidated in a narrow range and settled for the day higher by 3 paise at 83.27 against the US dollar on Monday.
Forex traders said positive macroeconomic data supported the rupee, while geopolitical tensions, particularly the Israel-Hamas conflict, dented investor sentiments.
At the interbank foreign exchange market, the local unit opened at 83.25 against the US dollar and moved in a range of 83.24 to 83.28 in the day trade.