Rupee settled lower against dollar on Thursday as rising crude oil prices dented the investor sentiment. Market participants were also awaiting the industrial production data for August and inflation numbers for September to be released later in the day. Some concerns also came as Petroleum and Natural Gas Minister Hardeep Singh Puri warned surging oil prices could hinder the economic recovery of many nations by curbing demand. Besides, International Monetary Fund’s Deputy Director, Fiscal Affairs Department, Ruud de Mooij said that India has a high debt like that of China but the risks associated with it are not as great as that of its northern neighbour. On the global front, Russian rouble leapt on Thursday to a more than two-week high against the U.S. dollar, after President Vladimir Putin ordered the mandatory sale of foreign currency revenues for some exporters to buttress the currency.
Finally, the rupee ended at 83.24 (Provisional), weaker by 6 paisa from its previous close of 83.18 on Wednesday. The currency touched a high and low of 83.25 and 83.12 respectively.
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