Indian rupee ended weaker against dollar on Monday, on emergence of demand for the greenback from importers. Sentiments were negative, as RBI data showed the country's foreign exchange reserves declined by $1.47 billion to $639.642 billion in the week ended September 17. In the previous week ended September 10, 2021, the reserves had dipped by $1.34 billion to $641.113 billion. The reserves had surged by $8.895 billion to a lifetime high of $642.453 billion in the week ended September 3, 2021. Meanwhile, India and US looking forward to reconvening trade policy forum this year. The US also looking forward to holding the next meeting of the US-India Commercial Dialogue and CEO Forum to enhance business and commercial ties between the two countries. On the global front; dollar rallied and the safe-haven yen dipped to a nearly three-month low on Monday, as fears of widespread market contagion from indebted China Evergrande Group receded.
Finally, the rupee ended 73.83, weaker by 15 paise from its previous close of 73.68 on Friday. The currency touched a high and low of 73.84 and 73.60 respectively.
