USDINR closed at 68.8550 against its opening at 68.7000. Dollar ended little changed Monday as buying by oil importers offset the impact of weak dollar and likely overseas funds inflow into local stocks. "Foreign banks including Standard Chartered Bank remained on the sell side along with investors who injected money into local equities, while nationalised banks remained on the buy side for oil importers,". The pair is down on Monday on selling by exporters and foreign banks tracking the weakness in the greenback after US President Donald Trump criticised the Federal Reserve's tightening policy.
Further, sentiment to receive a boost from Narendra Modi led NDA government winning majority vote in No-Trust Motion, by receiving whooping 325 votes out of 451.
The GST Council in its recent meeting reduced the tax rate on over 50 goods, including washing machines, refrigerators, vacuum cleaners, paints, ethanol, cosmetics, and sanitary napkins. The changes in tax rate would come into effect from Jul 27, 2018.
Globally, Asian stocks traded mixed Monday after US President Donald Trump accused China and European Union of manipulating their currencies.
Sensex provisionally ends 186 points higher with 22 components in the green.