The Indian rupee ended weaker against the US dollar on Monday mainly due to risk aversion in global markets and rising crude oil prices. Besides, a strong American currency against key rivals overseas and a negative trend in domestic equities weighed on investor sentiments. Investors overlooked reports that Fitch Ratings upwardly revised the global growth forecast for 2023 by 10 basis points to 2.5 per cent, reflecting surprising resilience so far this year in the US, Japan, and emerging markets excluding China. On the global front, the US dollar hovered near high on Monday as traders looked ahead to interest rate decisions from the Federal Reserve, the Bank of England and the Bank of Japan this week.
Finally, the rupee ended at 83.32 (Provisional), weaker by 16 paise from its previous close of 83.16 on Friday. The currency touched a high and low of 83.32 and 83.09 respectively.
Start Research-backed Investing ...Now. Subscribe to Sapphire
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: