Indian rupee strengthened against the U.S. dollar on Monday amid the Reserve Bank of India’s measures to curb speculative fervour and dampen volatility in the rupee. Besides, investors showed optimism over hopes of a cease fire between US and Iran after reports indicated that US and Iran have received proposal to end ongoing hostilities, including the reopening of the Strait of Hormuz. Meanwhile, traders paid no heed towards cut in India's economic growth estimates for the current fiscal (FY27) by Moody's Ratings. It has cut India's economic growth estimates for FY27 to 6% from an earlier 6.8%, noting that ongoing conflict in West Asia will moderate growth momentum and raise inflation risks. On the global front, the British pound has weakened to trade near $1.32 on Monday amid uncertainty over the West Asia conflict and increasing energy prices.

Finally, the rupee ended at 93.06 (Provisional), strengthened by 12 paise from its previous close of 93.18 on Thursday. The currency touched a high and low of 93.13 and 92.79 respectively.