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Rupee ends lower against dollar on Monday

13 Mar 2023 Evaluate

Indian rupee ended considerably lower against the US dollar on Monday tracking the weak sentiment in the domestic equity market and unabated foreign fund outflow. Traders were cautious even as India's industrial production growth perked up to 5.2 per cent in January 2023 from 4.7 per cent in December 2022. There was an improvement on an annual as well as sequential basis. The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 2 per cent in January 2022. On the global front, Russian rouble rose sharply against the dollar on Monday as U.S. authorities launched emergency measures to shore up confidence in the banking system after a bank failure, while higher oil prices pushed Russian stocks higher.

Finally, the rupee ended at 82.16 (Provisional), weaker by 10 paise from its previous close of 82.06 on Friday. The currency touched a high and low of 82.20 and 81.78 respectively.

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