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Indian rupee ended higher on Monday amid positive sentiment in the domestic equity market. Traders got support as Federation Indian Chambers of Commerce and Industry (Ficci) expects the economy to grow at 7.5 to 8 per cent in the current fiscal and 8 per cent in 2024-25 on the back of strong growth momentum, positive sentiments and rising private investments. There will, however, be geopolitical pressure points that may have a bearing on India's growth prospects. Besides, India's foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. On the global front, U.S. dollar rallied against Japan's yen on Monday after a report said the Bank of Japan saw little need to end negative interest rates in December, contrary to some investors' expectations. Meanwhile, China's yuan fell after data showed deflation in the country worsened in November.

Finally, the rupee ended at 83.37 (Provisional), stronger by 3 paise from its previous close of 83.40 on Friday. The currency touched a high and low of 83.39 and 83.37 respectively.