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The rupee surged 19 paise to 68.65 against the US currency due to foreign fund inflows and weakening of dollar against other currencies overseas.
According to forex dealers, increased selling of the American currency by exporters and banks and a firm domestic equity market lifted the domestic currency.
The domestic unit opened strong by 16 paise at 68.68 at the interbank forex market today. It hovered in a range of 68.85 and 68.65 before quoting at 68.83, up 1 paise at 4.50 pm local time.
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.
On Friday, the rupee had ended strong by 21 paise at 68.84 after hitting life-time low intraday on suspected central bank intervention to check the volatility in currency markets. Meanwhile, the benchmark BSE Sensex ended higher by 222.23 points or 0.61 per cent at 36,718.60.
As per provisional data, foreign portfolio investors had bought shares worth Rs 310.27 crore on Friday.
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