Indian rupee witnessed mild weakness against the U.S. dollar on Monday as traders parsed through details of framework for India-US Interim Agreement regarding reciprocal and mutually beneficial trade. Under this agreement, India will eliminate or reduce tariffs on all U.S. industrial goods and a wide range of U.S. food and agricultural products, while US will apply a reciprocal tariff rate of 18% on goods coming from India. India intends to purchase $500 billion of U.S. energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next 5 years. On the global front, the Japanese yen strengthened against the U.S. dollar on Monday, after the ruling Liberal Democratic Party secured a landslide victory in the House of Representatives election.

Finally, the rupee ended at 90.72 (Provisional), weakened by 7 paise from its previous close of 90.65 on Friday. The currency touched a high and low of 90.77 and 90.37 respectively.