Indian rupee ended lower against dollar on Monday, on account of sustained dollar demand from importers and banks. Traders overlooked Economic Advisory Council member Sanjeev Sanyal’s statement that India is capable of sustaining an economic growth of 9 per cent for many years, even as he asserted that a high sustained GDP growth rate is key for the world to achieve the 2030 Sustainable Development Goals (SDGs). Besides, Reserve Bank of India's (RBI) weekly statistical supplement showed India's foreign exchange reserves rose for the third straight week, to $550.14 billion in the week through November 25. For the week ended November 18, the country's reserves were at $547.25 billion. On the global front, rouble weakened to a seven-week low against the dollar as a price cap on Russian oil came into force on Monday in a development that could reduce Russia's foreign currency export revenue.
Finally, the rupee ended at 81.80 (Provisional), weaker by 47 paise from its previous close of 81.33 on Friday. The currency touched a high and low of 81.87 and 81.25 respectively.
