Rupee settled lower against dollar on Thursday weighed by broad strength in the dollar index. Traders were cautious ahead of macro-economic data i.e. Consumer Price Index (CPI) for the month of April and Index of Industrial Production (IIP) scheduled to be release on May 12, 2023. Traders ignored Industry body PHDCCI’s statement that enhanced competitiveness of the Indian economy will attract more investments and create new employment opportunities for the growing young population in the country. On the global front, sterling trimmed declines after the Bank of England raised interest rates for the 12th consecutive time, while the safe-haven dollar rose on Thursday as more evidence of weakness in China's post-COVID recovery clouded the outlook for the global economy.
Finally, the rupee ended at 82.09 (Provisional), weaker by 15 paise from its previous close of 81.94 on Wednesday. The currency touched a high and low of 82.13 and 81.93 respectively.