Indian rupee ended higher against the dollar on Wednesday tracking a correction in the greenback against major currencies and fresh foreign capital inflows. Traders got encouragement as finance minister Nirmala Sitharaman said that retail inflation has come down to within the tolerance band due to steps taken by the government to check price rise in essential commodities, especially in perishable commodities. On the global front, sterling rose on Wednesday after data showing rising house prices in Britain supported bets that the Bank of England (BoE) was not likely to cut interest rates any time soon, while ringgit closed higher against the US dollar in tandem with regional currencies as the greenback retreated from recent three-month peaks although staying firm hovering just below its strongest levels since early November.
Finally, the rupee ended at 82.96 (Provisional), stronger by 9 paise from its previous close of 83.05 on Tuesday. The currency touched a high and low of 83.09 and 82.94 respectively.
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