The Indian rupee ended weaker against the US dollar on Monday tracking surging crude oil prices. Besides, month-end dollar demand from importers and foreign capital outflows weighed on the local currency. Traders were cautious as Reserve Bank of India's data showed India's foreign exchange reserves saw a dip of $1.9 billion, dragging the reserves to $607.03 billion for the week ending on July 21. Traders overlooked private report stating that the country's per capita income is likely to grow by close to 70 per cent to $4,000 by fiscal 2030 from $2,450 in fiscal 2023, helping it become a middle-income economy with $6-trillion GDP, more than half of which will be coming in from household consumption. On the global front, the yen softened on Monday, extending losses from a volatile session at the end of last week after the Bank of Japan (BOJ) loosened its grip on interest rates, but it remained on track for its first monthly gain against the dollar since March.
Finally, the rupee ended at 82.24 (Provisional), weaker by 6 paise from its previous close of 82.18 on Friday. The currency touched a high and low of 82.29 and 82.21 respectively.
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