Indian rupee depreciated against the US dollar on Monday, weighed down by significant rise in crude oil prices as well as the US dollar demand from importers. Weakness in domestic equities also dented investor sentiments. Foreign fund outflows added pressure on the local unit. According to exchange data, foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 2,391.98 crore. Traders took a note of reports that India’s services sector activity growth eased during the month of April. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index fell to 60.8 in April from 61.2 in March. Meanwhile, the Reserve Bank of India (RBI) said India's forex reserves dropped $2.412 billion to $637.922 billion as on April 26, in the third consecutive weekly decline in the reserves.
Finally, the rupee ended at 83.51 (Provisional), weaker by 6 paise from its previous close of 83.45 on Friday. The currency touched a high and low of 83.55 and 83.42 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: