Rupee Jumps 22 Paise Against US Dollar: What's Fueling The Surge?

• Indian rupee gained 22 paise, closing at 89.45 against the US dollar on Monday.
• The rebound is attributed to foreign fund inflows, positive domestic equities, and corporate dollar inflows.
• Brent crude prices near $60 and RBI's heavy dollar selling intervention also supported the rupee.
• Lower trade deficit in November and increased FPI buying in Indian equities are potential contributing factors.
• Despite the recent appreciation, the rupee is still 5% down year-on-year, with a broader depreciation trend noted.

Why It Matters: Rupee rebounds against USD due to inflows, RBI action, and positive market sentiment, but long-term trend remains weak.