The Indian rupee ended weaker against the US dollar on Monday amid foreign fund outflows. Traders were worried after India reported a widened trade deficit for the month of July. The merchandise trade deficit of the country widened from $20.13 billion in June 2023 to $20.67 billion in the month of July. The merchandise trade deficit stood at $25.43 billion for the month of June 2022. Traders took a note of report that India’s inflation based on wholesale price index (WPI) deflated for the fourth straight month in July at (-) 1.36% due to fall in the prices of Minerals, Mineral oils, and Electricity. On the global front, the pound ticked a fraction higher against the dollar on Monday as traders stayed focused on key data due this week for hints on the Bank of England's future interest rate hike trajectory.
Finally, the rupee ended at 83.08 (Provisional), weaker by 26 paise from its previous close of 82.82 on Friday. The currency touched a high and low of 83.11 and 82.94 respectively.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: