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Rupee ends marginally up against dollar

11 Jul 2018 Evaluate

Indian rupee ended marginally higher against dollar on Wednesday, due to increased selling of the American currency by exporters and banks. Investors’ sentiments got support with updated World Bank figures for 2017 showing that India is now the world's sixth-biggest economy, having muscled past France, which was pushed to the seventh spot. India's gross domestic product (GDP) stood at $2.597 trillion at the end of 2017, compared to $2.582 trillion for France. However, gains were capped as investors remained cautious ahead of key economic data i.e. Consumer Price Index-based (CPI) inflation and Index of Industrial Production data (IIP), scheduled to be released tomorrow. On the global front, dollar firmed against most of its rivals on Wednesday, after the United States threatened to impose additional tariffs on Chinese goods, escalating trade tensions between the world's two largest economies.

Finally, the rupee ended at 68.77, 5 paise stronger from its previous close of 68.82 on Tuesday. The currency touched a high and low of 68.89 and 68.75 respectively.

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