Rupee depreciates against dollar on Monday
The rupee ended at 88.75 (Provisional), depreciated by 03 paise from its previous close of 88.72 on Friday
Indian rupee depreciated against the US dollar on Monday ahead of the Reserve Bank of India’s policy outcome on Wednesday. Traders took note of report that Crisil Intelligence in its September report has said that high tariffs imposed by the United States (US) on Indian goods pose a major risk to the country's growth. It added that the tariffs will impact both Indian goods exports and investments. However, it noted that domestic consumption, driven by benign inflation and rate cuts, is expected to support growth. On the global front, U.S. dollar weakened against other major currencies in the European session on Monday amid concerns of a looming U.S. government shutdown.
Finally, the rupee ended at 88.75 (Provisional), depreciated by 03 paise from its previous close of 88.72 on Friday. The currency touched a high and low of 88.81 and 88.69 respectively.
