Indian Rupee ended higher against the US dollar on Wednesday helped by robust macro fundamentals, FII inflows and a weak greenback against major rivals overseas. India’s inflation based on wholesale price index (WPI) maintained the declining trend in the month of May 2023 at (-) 3.48% as against (-) 0.92% recorded in April 2023. Decline in the rate of inflation is primarily contributed by fall in prices of food articles, non-food articles and crude petroleum & natural gas, coal, mineral oils and electricity. On the global front, sterling ticked higher versus the dollar on Wednesday after data showed Britain's economy grew modestly in April.
Finally, the rupee ended at 82.10 (Provisional), stronger by 15 paise from its previous close of 82.25 on Tuesday. The currency touched a high and low of 82.32 and 82.08 respectively.