Indian rupee depreciated against the US dollar on Monday on disappointing macroeconomic data and broad strength of the American currency in the overseas markets. Traders were worried after Crisil expects GDP growth to slow to 6.8% this financial year 2024-25. It said the growth is weighed down by high interest rates and low fiscal impulse. Meanwhile, HSBC final India manufacturing Purchasing Managers' Index, compiled by S&P Global, fell to 56.5 last month from 57.5 in October. On the global front, euro dropped on Monday versus a strengthening U.S. dollar on growing concerns about a possible government collapse in France, which would stall plans to curb a burgeoning budget deficit.
Finally, the rupee ended at 84.71 (Provisional), depreciated by 11 paise from its previous close of 84.60 on Friday. The currency touched a high and low of 84.73 and 84.58 respectively.
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