Indian rupee ended higher against dollar on Monday, as the American currency retreated from its elevated levels. Sentiments were upbeat as Federation of Indian Export Organisations (FIEO) President A Sakthivel has said India's exports are expected to grow by 3-5 per cent to $435-445 billion in this fiscal. In 2021-22, the country's exports touched an all-time high of $422 billion. Besides, expressing optimism over growth of Indian economy, former Niti Aayog Vice Chairman Rajiv Kumar has said that the country is likely to clock 6 percent growth rate next fiscal (FY24) and it can persevere with a high growth rate because of several reforms undertaken during the last eight years by the government. On the global front, dollar was on the front foot on Monday, supported by a strong run of economic data out of the United States that traders bet will keep the Federal Reserve on its monetary policy tightening path for longer than initially expected.
Finally, the rupee ended at 82.72 (Provisional), stronger by 10 paise from its previous close of 82.82 on Friday. The currency touched a high and low of 82.74 and 82.62 respectively.
