Rupee ends lower against US dollar on Monday

Indian rupee ended considerably lower against the US dollar on Monday weighed down by gains in the greenback in the overseas markets and a muted trend in domestic equities. Sustained foreign fund outflows and firm crude oil prices further dented investor sentiments. Traders were concerned as Foreign investors pulled out Rs 28,852 crore from Indian equities in January, making it the worst outflow in the last seven months, primarily due to attractiveness of the Chinese markets. On the global front, dollar held firm against the euro on Monday, with traders taking the view the U.S. Federal Reserve will likely lift its benchmark rate above 5% and keep it there to squeeze inflation after data showed the labour market remains strong.

Finally, the rupee ended at 82.73 (Provisional), weaker by 65 paise from its previous close of 82.08 on Friday. The currency touched a high and low of 82.76 and 82.35 respectively.