HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Indian rupee appreciates on Tuesday
Oct-29-2024

Indian rupee appreciated on Tuesday amid positive domestic markets. Investors took support with finance ministry’s statement that India's economic outlook remains bright, underpinned by a stable external sector, positive farm prospects and chances of higher government spending to make up for the shortfall during the general elections but ‘underlying demand conditions bear watching’. It also said India's inflation appears largely under control despite sporadic spikes in prices of certain vegetable. On the global front, dollar hit three-month highs against the yen on Tuesday as the loss of a parliamentary majority for Japan's ruling coalition in weekend elections muddied the political and monetary picture, while sterling was firm ahead of a new British budget.

Finally, the rupee ended at 84.05 (Provisional), appreciated by 2 paise from its previous close of 84.07 on Monday. The currency touched a high and low of 84.08 and 84.05 respectively.

  RELATED NEWS >>