Indian rupee depreciated against the US dollar on Monday due to volatile crude oil prices amid tariff uncertainties worldwide and unabated outflow of foreign funds. Rupee witnessed steepest fall in over a month. Sentiments were downbeat as RBI said India's forex reserves dropped by $1.781 billion to $638.698 billion in the week ended February 28. The overall forex kitty had jumped by $4.758 billion to $640.479 billion in the previous reporting week. On the global front, U.S. dollar weakened against other major currencies in the Asian session on Monday amid prospects of the U.S. Fed cutting interest rates earlier after a report showed employment in the U.S. increased by slightly less than expected in the month of February.
Finally, the rupee ended at 87.34 (Provisional), depreciated by 38 paise from its previous close of 86.96 on Friday. The currency touched a high and low of 87.39 and 87.16 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: