Indian rupee depreciated against the US dollar on Monday amid weak domestic equities and a bounce back in crude oil prices. Investors were worried as RBI has said that India's external debt increased by 10 per cent to $736.3 billion at the end of March 2025 compared to $668.8 billion in the year-ago period. As a percentage of the GDP, the external debt increased to 19.1 per cent at the end of the recently concluded financial year (FY25) from 18.5 per cent a year ago. On the global front, British pound weakened against other major currencies in the European session on Monday amid increased risk-off mood, as investors eyed progress in global trade negotiations ahead of the impending July 9 deadline for U.S. reciprocal tariffs.
Finally, the rupee ended at 85.76 (Provisional), depreciated by 25 paise from its previous close of 85.51 on Friday. The currency touched a high and low of 85.79 and 85.44 respectively.
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