The Indian rupee erased its early losses against the U.S. dollar in evening deals on Monday, as regional stocks finished the session higher amid optimism about talks between Russia and Ukraine.

The broader NSE Nifty index closed the session up 135.50 points, or 0.81 percent, at 16,793.90, while the benchmark S&P BSE Sensex ended at 56,247.28, up 388.76 points, or 0.70 percent from its previous close.

The Indian rupee recovered to 75.26 against the greenback from a 4-day low of 75.78 hit in the morning session. The currency is seen finding resistance around the 72.00 level.

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