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Indian rupee ends lower against dollar

09 Jun 2022 Evaluate

Indian rupee ended weaker against the US dollar on Thursday, on increased demand for the greenback from importers and banks. Boiling crude oil prices ramped up inflation fear, with top officials warning of more pain to come as the Ukraine war continues to push up and put further pressure on the global economy weighed on traders’ sentiments. Investors paid no heed towards report that country’s exports increased 24.18 per cent to USD 9.39 billion during June 1-7, 2022 on account of healthy growth in sectors like engineering, gems and jewellery and petroleum products. The exports during June 1-7, 2021 stood at USD 7.56 billion. On the global front, pound softened versus the U.S. dollar and the euro on Thursday amid a gloomy economic outlook and political worries.

Finally, the rupee ended at 77.75, weaker by 7 paise from its previous close of 77.68 on Wednesday. The currency touched a high and low of 77.81 and 77.44 respectively.

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