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Rupee ends weaker against dollar on Friday

14 Oct 2022 Evaluate

Indian rupee concluded weaker against dollar on Friday on account of continued dollar demand from importers and banks. Domestic sentiments got hit after private equity investments plunged 77.5 per cent to $3.84 billion in the September quarter, reflecting the overall decline in funds flows into startups especially since the Ukraine war. Traders ignored reports that India's inflation based on the Wholesale Price Index (WPI) crashed to an 18-month low of 10.7 percent in September. WPI inflation was 12.41 percent in August. In September 2021, it stood at 11.80 percent.  On the global front, Dollar edged higher on Friday after dropping the previous day despite U.S. inflation accelerating, helping it hit a 32-year peak against Japan's yen.

Finally, the rupee ended at 82.35 (Provisional), weaker by 11 paisa from its previous close of 82.24 on Thursday. The currency touched a high and low of 82.43 and 82.12 respectively.


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