Indian rupee depreciated against the US dollar on Monday even after positive domestic market. Traders overlooked the report that Chief Economic Advisor V Anantha Nageswaran exuded confidence that economic growth would be upwards of 6.8% in FY26 driven by consumption boost provided by GST rate cut and income tax relief. Besides, commerce ministry said that the proposed free trade agreement between India and New Zealand is expected to enhance trade flows, deepen investment linkages and strengthen supply-chain resilience. On the global front, ringgit extended its uptrend to close higher against the US dollar, lifted by improved risk appetite and growing optimism over a possible resolution to the United States’ (US) government shutdown.

Finally, the rupee ended at 88.73 (Provisional), depreciated by 8 paise from its previous close of 88.65 on Friday. The currency touched a high and low of 88.73 and 88.64 respectively.