The Indian rupee strengthened by 8 paise against the US dollar on Tuesday. The currency ended the trading session at 95.07 (Provisional) compared to its previous close of 95.15 on Monday.
The rupee reached a high of 95.24 and a low of 95.02 during the session. Union Finance Minister Nirmala Sitharaman stated that the government remains committed to fiscal consolidation. She noted that the Centre aims to limit the national debt to 50% of Gross Domestic Product by 2030, citing annual budgets as evidence of these efforts to rein in the fiscal deficit.
Investor sentiment faced pressure from elevated crude oil prices and capital outflows from foreign institutional investors. These investors were net sellers on Monday, offloading securities worth ₹1,462.49 crore. Globally, the euro weakened against the US dollar as market participants awaited the upcoming policy decision from the European Central Bank. The currency market continues to monitor these global developments alongside domestic fiscal policy updates provided by the Finance Minister.
Based on company and agency reports. For information only; not investment advice.