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Rupee ends higher against dollar on Tuesday

20 Aug 2024 Evaluate

Indian rupee ended higher against the U.S. dollar on Tuesday buoyed by positive domestic equity markets. Traders got support as the latest data released by the Reserve Bank of India (RBI) showed that net foreign direct investment (FDI) during the April-June period of the current financial year was $6.9 billion, compared to $4.7 billion in the year-ago period. The increase was due to an improvement in gross inward FDI, which grew by 26.4 per cent year-on-year (Y-o-Y) to $22.5 billion during Q1 of 2024-25. On the global front, Sterling hit a one-month high against a weakening dollar and was flat versus the yen on Tuesday.

Finally, the rupee ended at 83.77 (Provisional), stronger by 10 paise from its previous close of 83.87 on Monday. The currency touched a high and low of 83.88 and 83.76 respectively.

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