The rupee on Monday gained a hefty 25 paise to close at 54.56 against the dollar on sustained selling of the US currency by exporters amid weak global cues.

However, consolidation in local equities and continued capital outflows capped the domestic currency’s gains to some extent, forex dealers said.

The rupee commenced a tad higher at 54.80 from its previous closing of 54.81 on Friday at the Interbank Foreign Exchange (Forex) market.

It moved in a range of 54.54-54.84 before closing at 54.56, a rise of 25 paise, or 0.46 per cent.

The dollar index was quoting down by 0.05 per cent against a basket of six major currencies.

The yen weakened beyond 99 against the dollar for the first time since May 2009 on hopes that Bank of Japan’s recent measures to fight deflation will further weaken the currency.

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