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Rupee depreciates against dollar on Thursday

21 Dec 2023 Evaluate

Rupee ended lower on Thursday despite positive trend in domestic equities. Some concern came as all-India Consumer Price Index Number for Agricultural Labourers and Rural Labourers (Base: 1986-87=100) for the month of November, 2023 increased by 12 points and 11 points respectively to stand at 1253 and 1262 points respectively. Besides, private report stated that country's total debt, or the total outstanding bonds which are being traded in the market, rose to $2.47 trillion (Rs 205 lakh crore) in the September quarter. The total debt amount in the March quarter of the previous fiscal was $2.34 trillion (Rs 200 lakh crore). On the global front, sterling was flat against the dollar on Thursday as traders digested the latest snapshot of the UK budget deficit, while Wednesday's cooler-than-expected November inflation print continued to sink in. 

Finally, the rupee ended at 83.27 (Provisional), weaker by 9 paise from its previous close of 83.18 on Wednesday. The currency touched a high and low of 83.28 and 83.18 respectively. 

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