Dollar closed at 67.1100 against its opening at 66.9600. Dollar ended higher Monday on buying by oil importers amid likely overseas funds outflow from local stocks. Local stocks ended lower, led by losses in shares of banking, consumer goods, and real estate sectors as investors remained cautious ahead of Reserve Bank of India's (RBI) second bi-monthly monetary policy committee meeting that began on Monday. The greenback is supported by a strong US jobs data release on Friday amid looming trade tension globally. Government data showed on Friday, US job growth accelerated in May and the unemployment rate dropped to an 18-year low of 3.8%, pointing to rapidly tightening labour market conditions, which could stir concerns about inflation. US economy added 223,000 jobs in May, and the average hourly earnings rose 0.3% after edging up 0.1% in April, both beating market estimation. The finance ministers from the six non-US members of the G7 issued a statement on Saturday criticizing the trade actions taken by the US President Donald Trump administration. On Thursday, the US announced that it would extend tariffs of 25% on steel and 10% on aluminium to Canada, Mexico, and the European Union.
BSE Sensex closed 215.37 points lower at 35,011.89, while the Nifty 50 ended 67.70 points down at 10,628.50.
INTERNATIONAL
Asian shares rose to their highest level in two-and-a-half-weeks as strong U.S. jobs data offset worries that tariff wars between the United States and the rest of the world could drag on global economic growth.
Gold prices were mixed during morning trade in Asia on Monday, with gold and silver trading lower while platinum and copper making gains.
Oil prices were down again morning in Asia due to record U.S. output and continued expectations that OPEC producers may decide to boost output later this month.
China's annual economic growth rate could fall by 1 percentage point over the medium-term if business investment is hit by a sharp slowdown in debt growth as the government cracks down on lending risks.