INR settles on a flat note near all-time low

The Indian rupee settled for the day on a flat note higher by just 1 paisa at 84.85 (provisional) against the US dollar on Tuesday, a tad above its all-time low level, as change of guard at the Reserve Bank of India raised expectations of a shift in the central bank's monetary policy. The government on Monday appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India. However, a weak tone in the domestic markets and a surge in the US dollar index further pressurised the rupee. The benchmark S&P BSE Sensex ended the session up 1.59 points at 81,510.05 while the broader NSE Nifty index closed down 8.95 points at 24,610.05.

 

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