Indian rupee ended lower against dollar on Wednesday weighed down by a surge in crude oil prices and strong American currency overseas. Investors overlooked reports that retail inflation based on the Consumer Price Index (CPI) declined to 6.83 per cent in August 2023 mainly due to softening prices of vegetables. Besides, India’s industrial production measured in Index of Industrial Production (IIP) jumped to 5.7 per cent in July 2023 from 3.7 per cent in June 2023. On the global front, the rouble weakened on Wednesday, as investors digested Kremlin comments on the currency and awaited Friday's central bank rate decision.
Finally, the rupee ended at 82.97 (Provisional), weaker by 2 paise from its previous close of 82.95 on Tuesday. The currency touched a high and low of 82.99 and 82.89 respectively.
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