Indian rupee depreciated against the US dollar on Monday amid rising global crude oil prices, foreign fund outflows and a strong American currency. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 760.11 crore on Friday, according to exchange data. Some concern came as Economic think tank GTRI cautioned that allowing genetically modified (GM) farm products from the US under the proposed trade pact would have implications for India as it may affect the country's agri exports to regions like the European Union. On the global front, the New Zealand and the Canadian dollars weakened against other major currencies in the Asian session on Monday, as Asian stock markets traded lower amid ongoing concerns about U.S. tariffs after U.S. President Donald Trump announced that his government will send letters to around 170 trading partners outlining new, simple unilateral tariffs that will take effect on August 1.

Finally, the rupee ended at 85.90 (Provisional), depreciated by 50 paise from its previous close of 85.40 on Friday. The currency touched a high and low of 86.03 and 85.51 respectively.