Indian rupee ended lower against the US dollar on Friday, weighed down by broad weakness in its Asian peers and aggressive local dollar demand. During the trading, rupee hit lowest level on record. Some cautiousness came in with a private report that Private equity and venture capital investments declined to $2.2 billion in February, 39 per cent down when compared with the year-ago period's $3.7 billion. On the global front, the U.S. dollar was set for a second week of broad gains on Friday, with even a rate hike in Japan unable to halt its march, and a surprise cut in Switzerland highlighting the gap between the Federal Reserve and global peers in interest rate settings. Besides, rouble weakened on Friday, showing limited reaction to a widely expected rate hold at 16% by the central bank and struggling to latch on to support from high oil prices and favourable month-end taxes.
Finally, the rupee ended at 83.62 (Provisional), weaker by 49 paise from its previous close of 83.13 on Thursday. The currency touched a high and low of 83.65 and 83.23 respectively.
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