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Rupee concludes substantially weaker against dollar

12 Apr 2022 Evaluate

Indian rupee ended lower against dollar on Tuesday. Sentiments were fragile as research wing of rating agency Crisil in its latest report said that companies are not able to pass on the pressure from rising input costs to buyers, and this is likely to result in a compression in corporate profit margins for the March quarter (Q4FY22). Adding more worries among traders, World Trade Organization projected that Russia's war in Ukraine could almost halve world trade growth this year and drag down global GDP growth too. On the global front, euro fell on Tuesday unable to hold on to the post-French election gains, as the dollar held firm supported by high U.S. yields ahead of inflation data expected to reinforce bets of aggressive monetary tightening.

Finally, the rupee ended at 76.16 (Provisional), weaker by 25 paise from its previous close of 75.91 on Monday. The currency touched a high and low of 76.17 and 75.97 respectively.

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