Indian Rupee Appreciates Sharply Against The U.S. Dollar

The Indian rupee appreciated sharply against the U.S. dollar on Monday, tracking positive global cues and a weakening dollar index.

"The U.S. dollar slipped on Friday amid a rise in risk appetite in global markets and mixed batch of economic data from the country," ICICI Securities said in a pre-market research note.

"U.S. non-farm payrolls data showed more new jobs were added in the economy whereas unemployment rate ticked higher and annual wage increases have eased."

The local currency opened at 82.15, 0.34% higher from its close of 82.43 on Friday. During the day's trade, it gained as much as 0.64% or 52.5 paise to reach 81.91, and closed at the day's high.

The rupee had hit a record low of 83.29 on Oct. 20.