Indian rupee depreciated against the US dollar on Monday as investors weighed President Donald Trump's H-1B visa fee hike impact on Indian remittances amid heightened risk-averse sentiment. Traders were cautious as the labour ministry in its latest data stated that retail inflation for farm and rural workers increased to 1.07 per cent and 1.26 per cent in August 2025 from 0.77 per cent and 1.01 per cent, respectively, in July. Traders paid no head towards report that the Reserve Bank of India has said that India's forex reserves jumped $4.698 billion to $702.966 billion for the week ended September 12, 2025. On the global front, ringgit closed firmer against the US dollar on Monday, supported by positive market sentiment following the government’s measured rationalisation of RON95 fuel subsidies.
Finally, the rupee ended at 88.28 (Provisional), depreciated by 12 paise from its previous close of 88.16 on Friday. The currency touched a high and low of 88.34 and 88.12 respectively.
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