Indian rupee ended higher against the American currency on Tuesday. Traders got support with a Reserve Bank of India's (RBI) article stating that India’s growth in the April-June quarter is likely to be driven by private consumption, supported by reviving rural demand, and renewed buoyancy in manufacturing. Some support also came as the federal finance ministry in its monthly economic review said that domestic demand will aid India’s economy and help lay the foundation for the capex cycle, despite global headwinds that pose a downside risk to growth. On the global front, U.S. dollar rose for a second day on Tuesday, briefly touching a six-month peak against Japan's yen, on expectations that U.S. interest rates will remain higher for longer, while ongoing debt ceiling negotiations kept investors on edge. Among a slew of Federal Reserve heavyweights who spoke on Monday, some hinted that the central bank had further to go in tightening monetary policy.
Finally, the rupee ended at 82.82 (Provisional), marginally higher by 2 paise from its previous close of 82.84 on Monday. The currency touched a high and low of 82.84 and 82.76 respectively.
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