Indian rupee depreciated against the US dollar on Tuesday on weak domestic stock markets and foreign fund outflows. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 55.58 crore on Monday, according to exchange data. Some concern came as the National Council of Applied Economic Research (NCAER) in its latest Business Expectations Survey stated that business sentiments in India moderated in the second quarter of the current fiscal year (Q2FY26), following three consecutive quarters of improvement, amid high global uncertainties, including additional US tariffs. On the global front, British pound weakened against other major currencies in the European session on Tuesday, as traders speculated that the Bank of England (BoE) is likely to deliver a 25-basis-point rate cut in November.
Finally, the rupee ended at 88.28 (Provisional), depreciated by 09 paise from its previous close of 88.19 on Monday. The currency touched a high and low of 88.40 and 88.23 respectively.
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