Rupee surges 33 paise against $
Mumbai: The rupee spurted by 33 paise to close at a more than two-week high of 72.46 against the US dollar on Monday, continuing its gaining streak for the fourth session in a row on the back of forex inflows.
The rupee opened strong at 72.71 at the interbank forex market despite a lacklustre trend in the domestic equity market and gains in the dollar index. The dollar index recovered from a week's low on Monday on a rise in Treasury yields on inflation worries ahead of the Federal Reserve's meeting.
Analysts said the forex market is likely to remain volatile ahead of the outcome of the Fed meeting. The local unit witnessed an intra-day high of 72.40 and a low of 72.75 on Monday.