Indian rupee ended lower against dollar on Wednesday, tracking a strong dollar in overseas markets and losses in the domestic equities. Traders were worried as domestic ratings agency Icra said India's current account deficit (CAD) will widen to 5 per cent of the GDP in the September quarter due to higher merchandise trade deficit. The trade deficit has doubled to $28.7 billion for August due to a 36.8 per cent expansion in imports and a 1.2 per cent decline in export earnings. Meanwhile, Commerce and Industry Minister Piyush Goyal stated that India's goods and services exports have already crossed $675 billion in the last fiscal year and the country is now aspiring to take international trade to $2 trillion by 2030. On the global front, Sterling slipped against a rampaging dollar on Wednesday, lingering near 2-1/2 year lows.
Finally, the rupee ended at 79.95 (Provisional), weaker by 13 paisa from its previous close of 79.82 on Tuesday. The currency touched a high and low of 79.95 and 79.84 respectively.
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