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Rupee ends marginally weaker against dollar on Thursday

13 Oct 2022 Evaluate

Indian rupee ended marginally weaker against dollar on Thursday, as investors were cautious ahead of US inflation data. Domestic traders were cautious after retail inflation based on Consumer Price Index (CPI) jumped to a five-month high of 7.41 percent in September 2022 mainly due to costlier food items. It is for the ninth month in a row that retail inflation has remained above the Reserve Bank of India's upper tolerance level of 6 percent. Besides, India’s industrial production growth, measured in terms of the Index of Industrial Production (IIP), slipped to an 18-month low, contracting by 0.8 per cent in August, mainly due to a decline in output of the manufacturing and mining sectors. On the global front, Sterling rose on Thursday in volatile trade as investors awaited the impending deadline for the Bank of England to end an emergency bond-buying programme.

Finally, the rupee ended at 82.34 (Provisional), weaker by 1 paisa from its previous close of 82.33 on Wednesday. The currency touched a high and low of 82.42 and 82.23 respectively.

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