Indian rupee ended weaker against the US dollar on Tuesday, on increased demand for the greenback from importers and banks. Traders were cautious, amid private report stating that business resumption activities, which had been gathering pace after the end of the second wave, moderated for the week ended July 25. It said resumption Index declined to 95.3 from the previous week's high of 96.4, stressing that it continues to be above the pre-second wave levels. However, downfall remain limited as Care ratings in its latest report has said that India’s gross domestic product (GDP) growth is likely to be 8.8 to 9 percent in the current financial year (FY22), driven by agriculture and industry sectors. On the global front, sterling dipped against the dollar on Tuesday as global stock markets sank led by a heavy sell-off in Chinese shares, which sapped risk sentiment and drove a bid for dollars ahead of a U.S. Federal Reserve policy meeting.
Finally, the rupee ended 74.47, weaker by 5 paise from its previous close of 74.42 on Monday. The currency touched a high and low of 74.54 and 74.35 respectively.
