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Rupee ends almost unchanged on Thursday

31 Oct 2024 Evaluate

Indian rupee ended almost unchanged against the US dollar on Thursday, impacted by persistent foreign fund outflows and month-end dollar demand from importers. Foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 4,613.65 crore, according to exchange data. Some concern also came as the government data showed that the growth in production of eight key infrastructure sectors slowed down to 2 per cent in September as against 9.5 per cent in the same month last year. However, the output growth is positive against a contraction of 1.6 per cent in August. On the global front, yen extended gains versus the dollar on Thursday after Bank of Japan Governor Kazuo Ueda said that currency markets have had a major impact on the economy, pointing to another potential rate hike in coming months.

Finally, the rupee ended at 84.07 (Provisional), rose by 1 paisa from its previous close of 84.08 on Wednesday. The currency touched a high and low of 84.09 and 84.07 respectively.


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