Rupee Closes At Record Low On Importers' Month-End Dollar Bids
The local currency weakened one paisa to close at Rs 83.73 against the dollar.
The Indian rupee depreciated to a fresh record low on Monday amid a month-end dollar demand from importers.
The local currency weakened one paisa to close at Rs 83.73 against the greenback, according to Bloomberg. It had closed at Rs 83.72 on Friday.
The brent crude was at $80.39 per barrel, while the US Dollar Index stood at 104.44.
Brent crude had initially risen 0.27% to $81.35 a barrel following a rocket strike in the Israeli-occupied Golan Heights, which Israel and the US blamed on the Lebanese armed group Hezbollah.
The DXY had initially fallen 0.09% to 104.2240 after US personal consumption expenditure data came in on expected lines, raising hopes for an interest rate cut.
The week ahead will see a slew of economic data from major Asian economies, including the US, Japan, China and South Korea. Markets are looking forward to the US Federal Open Market Committee and the Bank of Japan's monetary policy meeting.
