Indian rupee depreciated against the US dollar on Monday despite positive trend in domestic markets. Investors were cautious as India's business activity slowed down in the month of September, as both output and new orders rose at the slowest rates in 2024 so far. The headline HSBC Flash India Composite Output Index -- a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors -- dipped to 59.3 in September from 60.7 in August. Softer expansions were seen across both the manufacturing and services sectors. On the global front, sterling dipped against the dollar on Monday as business activity readings pointed to differing economic cycles in the British and eurozone economies.
Finally, the rupee ended at 83.54 (Provisional), marginally lower by 2 paise from its previous close of 83.52 on Friday. The currency touched a high and low of 83.55 and 83.44 respectively.
