Mumbai: With the global weakening of the dollar, the Indian rupee continued to rise against it, breaching the 47-mark, while forward premia fell by 25 to 50 basis points.

The rupee on Monday closed over 14 paise higher, at 46.99/47.00 against the dollar, as compared to its levels on Thursday, the last working day.

The Indian currency markets had been closed starting Thursday for a string of holidays clubbed with the weekend. When the markets opened on Monday, there were bunched up supplies of the dollar, leading to the rupee vaulting by 14 paise. On Thursday, the currency had closed at 47.1450/1500.

The rupee opened the day at 47.0910, touched an intra-day high of 46.9750, and an intra-day low of 47.1100 against the dollar.