Rupee edges lower against US dollar on Tuesday
Indian rupee edged lower against the US dollar on Tuesday amid a strong American currency against major Asian rivals and an upward movement in the crude oil prices. Traders were cautious as Crisil in its report said that India Inc is likely to log 4-6 per cent revenue growth in the January-March quarter of 2023-24, marking the slowest quarterly growth since recovery from the Covid-19 pandemic which began in September 2021. Investors overlooked data from the NSE showed that Foreign institutional investors (FIIs) net bought Rs 169.09 crore shares on April 29.
The partially convertible currency is currently trading at 83.51, down by 6 paise from its previous close of 83.45 on Monday. The currency touched a high and low of 83.52 and 83.46 respectively.
