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Indian rupee ends flat on Tuesday
Oct-22-2024

Indian rupee ended flat on Tuesday tracking negative domestic equity markets and unabated outflow of foreign funds. Traders were cautious as the latest bulletin from the Reserve Bank of India has stated that India's inflation is on a downward trajectory, but there is still significant ground to cover. The final stretch of disinflation hinges on controlling food inflation and mitigating its spillover effects on inflation expectations and core inflation. Meanwhile, foreign institutional investors (FIIs) offloaded equities worth Rs 2,261.83 crore on October 21. On the global front, Sterling hit a fresh low against the dollar on Tuesday while investors remained focused on the central banks' easing paths and the possible outcome of the U.S. elections.

Finally, the rupee ended flat with its previous close of 84.07 on Monday. The currency touched a high and low of 84.08 and 84.06 respectively.

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