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Rupee ends flat on Tuesday

09 Jul 2024 Evaluate

Indian rupee ended flat with a positive bias on Tuesday amid strong domestic equities. Traders took support with rating agency Crisil’s report stating that securitisation volume rose to Rs 45,000 crore in the first quarter of the current fiscal (Q1FY25), marking a around 17% on-year, like-to-like growth (adjusted for the exit of a large HFC and regulatory measures on gold loan securitisation). Over 95 originators, including NBFCs and banks, tapped the market to diversify funding sources, compared with around 80 in previous fiscal. On the global front, the U.S. dollar edged higher on Tuesday from its lowest levels in almost a month versus major peers in the previous session, as traders awaited testimony from Federal Reserve Chair Jerome Powell days after an unexpectedly soft U.S. jobs report.

Finally, the rupee ended at 83.49 (Provisional), stronger by 1 paisa from its previous close of 83.50 on Monday. The currency touched a high and low of 83.51 and 83.47 respectively.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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