Indian rupee ended higher against dollar on Monday, supported by a weaker greenback overseas and a firm trend in domestic equities. Sentiments were positive as latest central bank data showed that the Reserve Bank of India’s foreign exchange reserves rose by $44 million to $562.85 billion in the week ended December 30. Traders ignored report revealed by the National Statistical Office (NSO) that Indian economy is likely to grow at 7 per cent in 2022-23 as compared to 8.7 per cent in 2021-22. On the global front, U.S. dollar on Monday neared its lowest in seven months against other major currencies, after data last week suggested the Federal Reserve could slow the pace of its rate hikes, while China re-opening its borders boosted riskier currencies.
Finally, the rupee ended at 82.37 (Provisional), stronger by 29 paise from its previous close of 82.66 on Friday. The currency touched a high and low of 82.45 and 82.27 respectively.