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Rupee ends unchanged against greenback

17 Jun 2022 Evaluate

Indian rupee ended flat on Friday amid a muted trend in domestic equities and unabated foreign capital outflows. Some support came as RBI article on the state of the economy has said that India is better placed than many competing countries to avoid the risks of a potential stagflation amid an increasingly hostile external environment. However, traders were worried as referring to economic crisis in Sri Lanka, a Reserve Bank article said states are showing warning signs of building stress, and the 5 most indebted ones -- Punjab, Rajasthan, Bihar, Kerala and West Bengal -- need to take corrective measures by cutting down expenditure on non-merit goods. On the global front, yen fell 2% on Friday after the Bank of Japan bucked a wave of tightening and stuck with its ultra-accommodative stance, adding to soaring volatility in currency markets hit by a series of rate hikes this week.

Finally, the rupee ended unchanged from its previous close of 78.10 on Thursday. The currency touched a high and low of 78.10 and 78.02 respectively.

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