The Indian Rupee depreciated against the US Dollar on Monday, pressured by consistent dollar demand. Oil importers and local banks actively purchased dollars, contributing to the Rupee’s downward trend.

Increased concerns regarding potential outflows of foreign funds further exacerbated the situation, adding to the pressure on the Indian currency. Currency traders are closely monitoring global market cues and foreign investment patterns to anticipate future movements of the Rupee.

The day’s trading saw the Rupee reach a low against the dollar. Market analysts suggest that the Reserve Bank of India (RBI) may intervene to stabilize the currency if the volatility continues to increase. The RBI’s actions will be crucial in managing the Rupee’s trajectory in the coming days.