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The rupee jumped 30 paise to 63.33 against the dollar, helped by strong gains in domestic stocks and losses in the greenback in overseas markets.
The domestic unit opened strong at 63.45 at the interbank forex market against the previous close of 63.63 per dollar as stocks soared to record levels after strong economic data. Industrial production growth zoomed to a 17-month of 8.4 per cent in November 2017.
The rupee moved in a range of 63.48 per dollar to 63.33 before quoting at 63.47, displaying strong gains of 16 paise against the greenback.
Selling of the American currency by exporters also supported the rupee. The dollar languished at three-year lows against a basket of currencies on Monday, while the euro stood tall on investors' hopes that the European Central Bank policymakers could be poised to further trim their monetary stimulus.
On Friday, the rupee had ended higher by a modest three paise at 63.63 against the US dollar in a highly volatile trade. Meanwhile, the 30-share BSE index Sensex ended higher by 251.12 points or 0.73 per cent at 34,843.51 and the 50-share NSE index Nifty rose 60.3 points or 0.56 per cent at 10,741.55.
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