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Rupee ends flat on Tuesday

10 Dec 2024 Evaluate

Indian rupee ended flat on Tuesday as change of guard at the Reserve Bank of India raised expectations of a shift in the central bank's monetary policy. The government appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India. Meanwhile, Ministry of Labour & Employment in its latest release has showed that retail inflation for farm workers and rural labourers witnessed a notable decline in the month of October 2024, easing to 5.96% and 6%, respectively as compared to 7.08% and 6.92% in October 2023. On the global front, US dollar rose on Tuesday ahead of US inflation data which could offer clues about the Federal Reserve's monetary easing path.

Finally, the rupee ended flat with its previous close of 84.86 on Monday. The currency touched a high and low of 84.86 and 84.78 respectively.

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