The rupee surged by 40 paise to close at more than two-month high of 73.29 against the US dollar on Monday following dovish comments by the US Federal Reserve chairman on interest rates.
A strong rally in the domestic equity markets and a weak American currency in the overseas markets also supported the rupee sentiment.
At the interbank forex market, the local unit opened strong at 73.46 against the greenback and later moved in a range of 73.21 to 73.54 in the day trade.
