Indian rupee ended lower against the U.S. dollar on Friday despite positive domestic markets. Sentiments were downbeat after inflation based on wholesale price index (WPI) accelerated in the month of May 2024 to 2.61% from 1.26% in April 2024, due to increase in prices of food articles, minerals, basic metals, computer, electronic & optical products and electrical equipments. The Component wise, primary articles index, having weight of 22.62%, increased 0.54% to 187.7 (provisional) in May 2024 from 186.7 (provisional) for the month of April 2024, on the back of rise in prices of food articles and minerals. On the global front, the Japanese yen weakened sharply against the dollar on Friday to its lowest level in around two and half months after the Bank of Japan decided to keep interest rates unchanged in June as widely expected, after its first rate hike in seven years at the March meeting.
Finally, the rupee ended at 83.55 (Provisional), down by 1 paisa from its previous close of 83.54 on Thursday. The currency touched a high and low of 83.58 and 83.52 respectively.
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