The Indian rupee advanced by 24 paise to 74.77 against the US dollar in opening trade on Monday, tracking weaker dollar against key rival currencies and a positive trend in the domestic equity market.

At the interbank forex market, the local unit opened at 74.81 against the US dollar, then gained some strength to quote at 74.77, a rise of 24 paise over its last close. In the previous session, the rupee had settled at 75.01 against the American currency.