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Rupee ends flat against dollar on Tuesday

25 Apr 2023 Evaluate

Indian rupee ended flat against dollar on Tuesday amid rising crude oil prices and foreign fund outflows. Traders were cautious after a senior United Nations (UN) official said that India is projected to overtake China as the world's most populous country by the end of this month when its population is expected to reach 1.425 billion. A senior UN official also said that India's population is projected to stabilise after the year 2064 and will be around 1.5 billion at the end of the century. Meanwhile, provisional data from National Stock Exchange showed that foreign institutional investors (FII) sold shares worth Rs 412.27 crore on April 24. On the global front, the pound fell on Tuesday, in line with a decline in a number of European currencies, as nervousness around the outcome of the earnings season and the outlook for the global economy gave the dollar an edge.

Finally, the rupee ended flat compared with its previous close of 81.92 on Monday. The currency touched a high and low of 81.96 and 81.86 respectively.

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