Mumbai, April 21 -- The Indian rupee extended rally for the fifth straight session and settled with gains of 25 paise at 85.13 (provisional) against the US dollar on Monday, boosted by a sharp fall in the dollar index and a surge in the domestic equities. Weakness in dollar overseas continued amid uncertainty surrounding Trump policies and its impact on the US economy. Meanwhile, President Donald Trump criticized Powell for being too slow to cut interest rates, adding that his removal "can't come quickly enough." Dollar index that measures the greenback against a basket of currencies hit a new three-year low and is down more than 1% at 98.04. Moreover, fresh foreign fund inflows and decline in crude oil prices also favoured the rupee.

In...