The Indian rupee rose by 3 paise to 82.81 against the US dollar on Monday as strengthening domestic equities and weak American currency supported the local currency.
The rupee opened higher at 82.83 against the U.S. dollar, registering a gain of 3 paise over its previous close of 82.84. At the interbank foreign exchange, the rupee touched an intra-day high of 82.81 against the American currency, and a low of 82.86 during the session.
The quick rise in the rupee was due to strong buying in domestic equities. The benchmark BSE Sensex gained 841 points to close at 36,469.67 and the broader NSE Nifty surged 207 points to 10,833.75.
The US dollar weakened in overseas markets, which increased the appeal of the Indian Rupee among investors.
The RBI, meanwhile, fixed the reference rate for the dollar at 82.8249 and for the Euro at 91.8634.