Indian Rupee ended lower against the US dollar on Tuesday weighed down by a strong greenback against major rivals overseas and a muted trend in domestic equities. Traders failed to take support from a report that Fitch Ratings affirmed India's sovereign rating with a stable outlook saying the country has a robust growth outlook and resilient external finances. Besides, Economic Affairs Secretary Ajay Seth said that Indian financial system is well protected and regulated despite the daunting global financial situation. On the global front, the dollar edged up against major currencies on Tuesday as traders awaited U.S. debt ceiling talks and new inflation data for a clearer picture of the outlook for the economy and U.S. interest rates.
Finally, the rupee ended at 82.05 (Provisional), depreciating by 27 paise from its previous close of 81.78 on Monday. The currency touched a high and low of 82.15 and 81.83 respectively.
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