Indian rupee depreciated against the US dollar on Monday as elevated crude oil prices and persistent foreign fund outflows dented investors' sentiments. Foreign institutional investors (FIIs) offloaded equities worth Rs 438.90 crore on Friday, according to exchange data. Traders were cautious as RBI report stated that India's forex reserves dropped by $1.88 billion to $686.23 billion during the week ended November 28. In the previous reporting week, the overall reserves had declined by $4.47 billion to $688.10 billion. On the global front, ringgit held firm against the US dollar at the close as traders adopted a wait-and-see approach ahead of the two-day Federal Open Market Committee (FOMC) meeting starting tomorrow in the US.
Finally, the rupee ended at 90.11 (Provisional), depreciated by 15 paise from its previous close of 89.96 on Friday. The currency touched a high and low of 90.26 and 90.05 respectively.
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