Indian rupee tumbled against dollar on Wednesday on the back of massive losses in domestic equities. Sentiments remained negative with Reserve Bank Governor Shaktikanta Das’ statement that the underlying economic activity in India continues to be strong, but external factors will cause some dent to the economy. On the global front, yen traded flat on Wednesday after surging almost 4% in the previous session, when the Bank of Japan (BOJ) unexpectedly tweaked a key policy, allowing government bond yields more room to move. Besides, the rouble plunged to its weakest level since early May past 70 against the dollar on Wednesday, extending weekly losses with fears over sanctions on Russian oil and gas spooking the market.
Finally, the rupee ended at 82.80 (Provisional), weaker by 10 paise from its previous close of 82.70 on Tuesday. The currency touched a high and low of 82.83 and 82.66 respectively.
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