Indian rupee concluded weaker against dollar on Friday on account of continued dollar demand from importers and banks and lackluster trend in domestic equities. Traders were concerned as the government data showed that India's exports recorded a flat growth of 0.59 per cent to $31.99 billion in November, even as trade deficit widened to $23.89 billion during the month. Exports stood at $31.8 billion in November last year. Imports rose by 5.37 per cent to $55.88 billion in November as compared to $53.03 billion in the corresponding month a year ago. Besides, investments by private equity and venture capital funds have declined by 42 per cent year-on-year to $4 billion in November. On the global front, dollar was little changed on Friday after jumping in the previous session, as traders analysed a raft of central bank rate hikes and grappled with the prospect that borrowing costs still have a way to climb.
Finally, the rupee ended at 82.85 (Provisional), weaker by 9 paise from its previous close of 82.76 on Thursday. The currency touched a high and low of 82.89 and 82.73 respectively.
