Indian rupee ended lower on Monday in line with a lackluster trend in domestic equity markets. Sentiments were downbeat with the commerce ministry’s data showing that India’s merchandise exports declined by 2.83 per cent to $33.90 billion in November 2023 as compared to $34.89 billion a year ago. Imports also declined to $54.48 billion in the month under consideration, as against $56.95 billion recorded in November 2022. However, the country's trade deficit exhibited a positive trend, narrowing to $20.58 billion in November. On the global front, the yen stood firm on Monday as the Bank of Japan (BOJ) kicked off a two-day meeting that could be crucial in determining the timing of the end of the central bank’s ultra-loose stance on interest rates. The recent burst of risk appetite has given the Australian and New Zealand dollars in particular a leg up, with both nudging towards five-month highs on Monday.
Finally, the rupee ended at 83.05 (Provisional), weaker by 2 paise from its previous close of 83.03 on Friday. The currency touched a high and low of 83.06 and 82.90 respectively.
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