Indian rupee ended flat on Tuesday due to mild dollar demand from banks and importers. Traders took some support as government data showed that India's retail inflation in August marginally eased to 5.3%, staying within Reserve Bank of India's comfort zone for a second month. Inflation in the food basket was 3.11% in August compared to 3.96% in the preceding month. Meanwhile, Union Minister for Commerce and Industry Piyush Goyal held a discussion with British Secretary of State for International Trade Liz Truss on enhancing the India-UK trade partnership. Goyal said that India and UK are strengthening trade ties by moving towards an early harvest deal, followed by a comprehensive Free trade agreement (FTA). On the global front; sterling steadied close to 5-week highs against the dollar on Tuesday supported by labor market data that showed the total number of payrolled employees in Britain has climbed to pre-pandemic levels.
Finally, the rupee ended unchanged from its previous close of 73.68 on Monday. The currency touched a high and low of 73.70 and 73.57 respectively.
