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Indian rupee was trading almost flat on Monday, following the overall gains in crude oil last week and sustained foreign fund outflows from capital markets. Foreign Institutional Investors (FIIs) remained net sellers in the capital market on Friday, as they offloaded shares worth Rs 2,950.89 crore, exchange data showed. Weak global cues amidst concerns over US Federal Reserve's aggressive monetary policy tightening, surging covid cases in China and a potential recession, adding more downward pressure on the rupee. However, firm trend at domestic equities supported the rupee sentiments.

The partially convertible currency is currently trading at 82.62, weaker by 1 paise from its previous close of 82.61 on Friday. The currency touched a high and low of 82.6650 and 82.5625 respectively.