After opening at record low level, Indian rupee staged recovery and ended higher against dollar on Thursday after persistent selling of the American currency by exporters. Domestic sentiment improved after RBI Monetary Policy Committee (MPC) member Ashima Goyal said that the efforts of the Reserve Bank to contain price rise by repeatedly increasing interest rates will help in containing inflation, which is likely to fall below 6 per cent next year. Goyal further said that the policy rate hikes have largely reversed pandemic-time cuts but the real rate remains low enough not to hurt the growth recovery. On the global front, dollar hit the symbolic level of 150 yen for the first time since 1990 on Thursday as the greenback was supported by Treasury yields trading at multi-year highs, keeping markets on high alert for intervention from Japanese authorities.
Finally, the rupee ended at 82.76 (Provisional), stronger by 24 paisa from its previous close of 83.00 on Wednesday. The currency touched a high and low of 83.29 and 82.72 respectively.
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