INR settles near three-week low amid firm greenback overseas; Muted local shares weigh

The Indian rupee traded in a narrow range on Tuesday and settled 6 paise lower at 90.95 (provisional) against the US dollar amid a firm greenback and higher crude oil prices. A sharp fall in domestic equity markets and uncertainties over the India-US trade deal further pressured the local unit, while foreign fund inflows lent some support. Indian shares came under heavy selling pressure on Tuesday, with concerns over tariffs, U.S.-Iran tensions and worries over AI-related disruptions keeping investors on edge. The benchmark BSE Senex ended the session down 1,068.74 points, or 1.28 percent, at 82,225.92 while the broader NSE Nifty index tumbled 288.35 points, or 1.12 percent, to 25,424.65. At the interbank foreign exchange, the rupee opened at 90.91 and traded in a narrow range of 90.91-90.97 due to possible intervention by the Reserve Bank of India (RBI). It ended the session at 90.95 (provisional), down 6 paise from its previous close and at its lowest level in nearly three weeks.

 

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