Rupee ends lower against dollar on Monday

Indian rupee ended considerably lower against the US dollar on Monday amid rise in crude prices. Traders got anxious with the latest payroll data showing that fresh formal job creation remained below one million for the second consecutive month in November, signalling pressure in the employment market.  Some concern also came as foreign investors pulled out a net amount of Rs 15,236 crore this month so far on attractive Chinese markets and concerns about the US economy entering a recession. However, strong sentiment at domestic equities market restricted the fall of the local currency. On the global front, the euro scaled a nine-month high on the dollar on Monday as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve.

Finally, the rupee ended at 81.42 (Provisional), weaker by 25 paise from its previous close of 81.17 on Friday. The currency touched a high and low of 81.50 and 80.88 respectively.