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Rupee ends marginally higher against dollar on Tuesday
Dec-03-2024

Indian rupee ended marginally higher against dollar on Tuesday, on continued selling of the American currency by exporters and banks and easing crude oil prices. Traders took support with Economic Affairs Secretary Ajay Seth’s statement that second quarter GDP growth at 5.4 per cent is lower than the potential but exuded confidence that the second half to be better. He added several high-frequency indicators in the month of October are pointing towards that. However, gains were limited as market participants remained on sidelines ahead of the upcoming RBI monetary policy on December 6, which will likely focus on balancing inflation and growth. On the global front, the euro edged up on Tuesday, regaining some poise after political turmoil in France sent traders scrambling for hedging protection against further price swings, while the yuan hit a 13-month low on tariff risks and weakness in China's economy. 

Finally, the rupee ended at 84.68 (Provisional), appreciated by 4 paise from its previous close of 84.72 on Monday. The currency touched a high and low of 84.76 and 84.64 respectively.


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