Indian rupee depreciated against the US dollar on Monday tracking a weak trend in domestic equities and relentless foreign capital outflows. Traders overlooked the report stating that India's manufacturing sector regained growth momentum in the month of October, fuelled by faster increases in total new orders and international sales. According to the survey report, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) surged to 57.5 in October as against 56.5 in September, indicating a substantial and accelerated improvement in operating conditions. On the global front, dollar slid on Monday as investors braced for a potential pivot this week for the global economy as the United States chooses a new leader, and as it likely cuts interest rates again with major implications for bond yields.
Finally, the rupee ended at 84.11 (Provisional), depreciated by 3 paise from its previous close of 84.08 on Thursday. The currency touched a high and low of 84.12 and 84.06 respectively.
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