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Indian rupee ends flat on Tuesday

05 Nov 2024 Evaluate

Indian rupee ended flat on Tuesday supported by a recovery in the domestic markets. Traders took note of private report that Finance Minister Nirmala Sitharaman chaired a meeting on November 4 to conduct a comprehensive review of the Income Tax Act 1961, in line with the announcement made during the last Union Budget. On the global front, dollar softened on Tuesday as traders squared positions ahead of what is expected to be a close U.S. presidential election, while pound edged up on Tuesday as traders awaited the outcome of a U.S. election that has proven too close to call for weeks, and separately, the Bank of England's decision on interest rates later in the week.

Finally, the rupee ended at 84.10 (Provisional), appreciated by 1 paisa from its previous close of 84.11 on Monday. The currency touched a high and low of 84.13 and 84.09 respectively.

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