Indian rupee depreciated against the US dollar on Monday amid a steep fall in the domestic equity markets and a rise in Brent crude prices. Traders were cautious as Reserve Bank of India (RBI) in its latest data has showed that bank credit as well as deposits witnessed deceleration during the October-December quarter (Q3FY25) sequentially. Bank credit growth (y-o-y) decelerated to 11.8 per cent in December 2024 from 12.6 per cent in September 2024, while aggregate deposits increased at a marginally lower pace at 11 per cent as compared to 11.7 per cent growth in July-September period. On the global front, U.S. dollar weakened against other major currencies on Monday, as the disappointing U.S. economic data kept the prospect of interest rate cuts by the Federal Reserve (Fed) intact this year.
Finally, the rupee ended at 86.72 (Provisional), depreciated by 4 paise from its previous close of 86.68 on Friday. The currency touched a high and low of 86.75 and 86.58 respectively.
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: