Rupee surges 48 paise to close at 81.92 per dollar, highest in a month

Stronger yuan, resumption of FPI flows into stocks bolster rupee

The rupee gained sharply against the greenback on Monday, strengthening past the 82 per dollar mark, as comments by a few senior Federal Reserve officials sparked hope of a slower pace of US rate increases going ahead.

A stronger Chinese currency and banks’ dollar sales on behalf of overseas investors also gave a fillip to the Indian currency, dealers said. The rupee closed at 81.92 to the dollar on Monday, from 82.44 per dollar on Friday. So far in 2022, the Indian currency has depreciated 9.3 per cent against the greenback. The last time it had settled stronger than 82/$1