Indian rupee appreciated against the US dollar on Monday amid a positive trend in domestic equities. Sentiments remained upbeat as S&P Global Ratings upgraded India's sovereign ratings and Prime Minister Narendra Modi promised next generational GST reforms by Diwali, which will bring down the tax burden on consumers as well as MSMEs. Some support also came with commerce ministry’s latest data showing that India's merchandise exports rebounded by 7.29 per cent to $37.24 billion in July 2025 as compared to $34.71 billion in July 2024. On the global front, dollar gained against major peers on Monday ahead of a meeting between U.S. President Donald Trump and his Ukrainian and European counterparts, while focus also turned to the Federal Reserve's Jackson Hole symposium for policy cues. 

Finally, the rupee ended at 87.39 (Provisional), appreciated by 20 paise from its previous close of 87.59 on Thursday. The currency touched a high and low of 87.48 and 87.33 respectively.