Indian rupee ended marginally lower on Tuesday as the greenback strengthened on Donald Trump's tariff plans and a muted trend in domestic equities. Traders also awaited the Federal Open Market Committee (FOMC) minutes of the November 7 meeting for further cues. Some cautiousness came with the finance ministry’s report stating that India's economic outlook for the coming months is cautiously optimistic, with agriculture likely to benefit from favourable monsoon conditions, increased minimum support prices and adequate supply of inputs. Also, it said India’s export recovery may face challenges due to softening demand in developed markets. However, losses remained capped as some support came with exchange data showing that Foreign Institutional Investors (FIIs) turned net buyers in the capital markets on Monday, purchasing shares worth Rs 9,947.55 crore. On the global front, the Japanese Yen (JPY) struggled to capitalize on modest intraday gains against its American counterpart and remained confined in a familiar range held over the past week or so amid the uncertainty tied to the Bank of Japan's (BoJ) rate-hike plans.
Finally, the rupee ended at 84.30 (Provisional), weaker by 1 paisa from its previous close of 84.29 on Monday. The currency touched a high and low of 84.35 and 84.22 respectively.
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