Rupee Falls 45 Paise To 81.26 As Fed Warning Boosts Bruised Dollar

The rupee reversed gains from earlier in the session to fall sharply on Monday.

The rupee reversed gains from earlier in the session to fall sharply on Monday, as a warning from a Federal Reserve policymaker that it would take a string of soft inflation reports for the bank to move away from rate hikes buoyed the battered dollar.

Bloomberg quoted the rupee last at 81.26 per dollar after opening at 80.5350, compared to 80.81 it closed on Friday.

PTI reported that the rupee fell 48 paise to close provisionally at 81.26 against the US dollar. 

The domestic currency traded in the 80.5125 to 81.2838 range, with the rupee pushed back beyond the 81 mark, stalling the rally from last week.