Indian Rupee ended lower against the US dollar on Tuesday as dollar demand from importers weighed on investor sentiments. Traders were cautious ahead of inflation report due on April 12, wholesale Inflation on April 14 and earning season of Q4FY23. Investors overlooked India Ratings’ statement that the share of combined capex of states in the GDP may improve marginally to 2.8% in FY24 from 2.5% in FY23. Besides, Union Finance Minister Nirmala Sitharaman’s statement that India's structural reforms approach has ensured that it remains a globally attractive destination for investment and the country is well-positioned in the global economy, allowing it to grow briskly, possibly faster, in the coming years. On the global front, British pound rose for the first day in five against a softening dollar on Tuesday as risk-sentiment improved, helping to push sterling towards the 10-month high it reached last week.
Finally, the rupee ended at 82.12 (Provisional), depreciate by 13 paise from its previous close of 81.99 on Monday. The currency touched a high and low of 82.15 and 81.96 respectively.
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