Indian rupee ended higher against the dollar on Wednesday tracking positive domestic equities. Traders got support with report that inflation based on wholesale price index (WPI) eased in the month of January 2024 to 0.27% from a nine-month high of 0.73% in December 2023, amid lower prices of crude petroleum & natural gas, non-food articles and food articles. The Component wise, primary articles index, declined 1.04% to 181.0 (provisional) in January 2024 from 182.9 (provisional) for the month of December 2023, on account of fall in prices of crude petroleum & natural gas, non-food articles and food articles. On the global front, dollar weakened against the yen on Wednesday after top Japanese currency officials warned against what they described as rapid and speculative yen moves, while sterling fell after data showed UK inflation did not accelerate in January as expected.
Finally, the rupee ended at 83.03 (Provisional), stronger by 5 paise from its previous close of 83.08 on Tuesday. The currency touched a high and low of 83.12 and 83.02 respectively.
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