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Rupee ends lower against greenback on Monday
Dec-04-2023

Indian rupee ended lower on Monday despite a positive trend in domestic equities. Traders ignored report that finance ministry said GST collections jumped 15 per cent to nearly Rs 1.68 lakh crore in November on increased domestic activity and festive season buying. Goods and Services Tax (GST) mop-up was over Rs 1.45 lakh crore in November 2022. Besides, Reserve Bank of India (RBI) showed that India's foreign exchange reserves increased by $2.54 billion to $597.94 billion for the week ending November 24. On the global front, dollar ticked higher on Monday, regaining some ground after falling for three straight weeks on bets that the Federal Reserve will soon be cutting interest rates. 

Finally, the rupee ended at 83.38 (Provisional), weaker by 5 paise from its previous close of 83.33 on Friday. The currency touched a high and low of 83.38 and 83.27 respectively. 

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