The Indian rupee depreciated 8 paise to close at 89.53 (provisional) against the US dollar on Monday, amid rising international crude oil prices. Sustained weakness in the rupee is also attributable to a widening trade deficit, and the delayed India-US trade deal. Indian shares also gave up early gains to end slightly lower on Monday. The benchmark BSE Sensex swung between gains and losses before closing down 64.77 points, or 0.08 percent, at 85,641.90. The broader NSE Nifty dropped 27.20 points, or 0.10 percent, to 26,175.75.However, the domestic unit pared sharp losses hit during intraday moves as weakness in dollar overseas supported the counter. At the interbank foreign exchange market, the rupee opened at 89.45, then lost its ground and fell to a record low of 89.79 against the US dollar in intraday trade, down 34 paise over its previous close before paring some losses. Meanwhile, official data today showed India's IIP growth rate for the month of October 2025 is 0.4 percent, which was 4.0 percent (Quick Estimate) in the month of September 2025. The slow growth in the month could be attributed to less number of working days because of a number of festivals in the month including Dussehra, Dipawali and Chhath, the ministry data suggested.
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