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Rupee ends marginally higher against dollar on Tuesday

06 Jun 2023 Evaluate

Indian rupee ended higher against the American currency on Tuesday. Traders got support after a private report stated that India's GDP growth will track above 6 per cent in the next two financial years, supported by strength in domestic demand. It pegged growth for 2023-24 and 2024-25 at 6.2 per cent and 6.5 per cent, respectively. Meanwhile, in efforts to further deepen financial inclusion in the country, the Reserve Bank of India (RBI) has launched a Financial Inclusion Dashboard ‘Antardrishti’. As the name suggests, the dashboard will provide the required insight to assess and monitor the progress of financial inclusion by capturing relevant parameters. On the global front, pound slipped on Tuesday as data showed that British house building wilted in May and the dollar found a footing. Russian rouble steadied near 81 against the dollar on Tuesday, showing limited reaction to the breaching of a major Soviet-era dam in the Russian-controlled part of southern Ukraine.

Finally, the rupee ended at 82.62 (Provisional), marginally higher by 1 paisa from its previous close of 82.63 on Monday. The currency touched a high and low of 82.66 and 82.56 respectively.

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