Indian rupee ended lower against the U.S. dollar on Wednesday amid pressure in local equities. Traders were cautious as an analyst at Moody's Ratings said India's fiscal deficit glide path set out for 2025-26 is reasonable, but a coalition government at the Centre may pose challenges to pass bigger reforms that the economy needs. Traders overlooked Karun Rishi, president of USA India Chamber of Commerce stating that the future ready budget presented by Union Finance Minister Nirmala Sitharaman aims to realize the vision of Viksit Bharat by raising spending to generate more jobs and spur economic growth. On the global front, Sterling gained on the euro on Wednesday after a survey showed British business activity this month was stronger than in euro zone economies, while it held steady on the dollar and tumbled against a rebounding Japanese yen.
Finally, the rupee ended at 83.71 (Provisional), weaker by 2 paise from its previous close of 83.69 on Tuesday. The currency touched a high and low of 83.72 and 83.68 respectively.
Start Research-backed Investing ...Now. Subscribe to Sapphire
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.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: