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Rupee ends weaker against dollar on Tuesday

03 Jan 2023 Evaluate

Rupee ended weaker against dollar on Tuesday, weighed by a strong greenback overseas and sustained foreign fund outflows. Sentiments got hit with IMF chief’s statement that one third of the global economy will be in recession this year, and warned that 2023 will be tougher than last year as the US, EU and China will see their economies slow down. On the global front, U.S. dollar jumped on Tuesday with focus on the minutes from the Federal Reserve's December meeting, while the yen earlier hit a seven-month high on rising expectations that the Bank of Japan (BOJ) might move away from its ultra-easy monetary policy.

Finally, the rupee ended at 82.86 (Provisional), weaker by 8 paise from its previous close of 82.78 on Monday. The currency touched a high and low of 83.01 and 82.67 respectively.

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