Indian rupee settled higher against dollar on last trading day of week despite weak domestic equities. Sentiments were positive even as United Nations’ report said that global economic growth is projected to slow to 1.9% this year from an estimated 3% in 2022. The report blamed the COVID-19 pandemic, Russia's war in Ukraine, high inflation and the climate crisis. It said this would mark one of the lowest growth rates in recent decades. On the global front, dollar edged up on Friday to pull away from multi-month lows against the euro and sterling, as investors began to train their sights on a slew of major central bank meetings next week.
Finally, the rupee ended at 81.53 (Provisional), stronger by 8 paise from its previous close of 81.61 on Wednesday. The currency touched a high and low of 81.67 and 81.50 respectively.
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