Rupee jumps 19 paise against US dollar to 68.65 amid weakening greenback

On Friday, rupee staged an impressive rebound from lifetime low levels, surging 21 paise to end at 68.84 against the dollar on suspected intervention by RBI to check volatility in currency markets

The rupee surged by 19 paise to 68.65 against the US currency in early trade at the Interbank Foreign Exchange on Monday as the dollar weakened globally, amid foreign fund inflows.

Increased selling of the American currency by exporters and banks amid a higher opening in the domestic equity market lifted the domestic currency, dealers said.

The dollar extended losses against world currencies overseas after US President Donald Trump doubled down on his criticism of global monetary policy and the Federal Reserve last week.

Further, a higher opening in the domestic equity market boosted the rupee, they added.

On Friday, the rupee staged an impressive rebound from lifetime low levels, surging 21 paise to end at 68.84 against the dollar on suspected intervention by the central bank to check volatility in currency markets.

Meanwhile, the benchmark BSE Sensex rose further by 79.40 points, or 0.21 per cent to trade at 36,575.77 in early trade.

Foreign portfolio investors (FPIs) bought shares worth Rs 3.10 billion on Friday, as per provisional data.