Indian rupee ended weaker against the US dollar on Monday, on increased demand for the greenback from importers and banks. Traders were concerned as foreign portfolio investors (FPIs) offloaded Indian equities to the tune of over Rs 5,689 crore in July so far as they continued to adopt a cautious stance in view of various domestic and global factors. During July 1-23, FPIs took out Rs 5,689.23 crore from equities, as per depositories data. However, downfall remained capped as Industry Minister Piyush Goyal expressed confidence that India will continue to attract high foreign direct investment (FDIs) in the current financial year. Meanwhile, the provisional commerce ministry data showed that the country's exports grew 45.13 per cent to $22.48 billion during July 1-21 on account of healthy growth in sectors such as gems and jewellery, petroleum and engineering. Imports also rose 64.82 per cent to $31.77 billion in the said period, leaving a trade deficit of $9.29 billion. On the global front, dollar slipped against a basket of currencies on Monday as investor focus turned to this week's Federal Reserve meeting.
Finally, the rupee ended 74.42, weaker by 2 paise from its previous close of 74.40 on Friday. The currency touched a high and low of 74.52 and 74.40 respectively.
