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Rupee ends lower against greenback on Wednesday

27 Nov 2024 Evaluate

Indian rupee ended lower on Wednesday, pressured by global uncertainties surrounding US President-elect Donald Trump’s proposed trade policies and a surge in crude oil prices. The rupee lost its gains as month-end dollar demand from importers increased, despite the Reserve Bank of India stepping in to sell dollars. Some cautiousness came in with report that after running surplus liquidity of about Rs 1.4 lakh crore for over two months, the banking system saw a decline in cash, prompting the Reserve Bank of India to inject Rs 6,956 crore on November 25. On the global front, U.S. dollar fell to a one-week low against its major peers on Wednesday as investors grew cautious about President-elect Donald Trump's tariff pledges while rebalancing their portfolios before the end of the month.

Finally, the rupee ended at 84.42 (Provisional), weaker by 13 paise from its previous close of 84.29 on Tuesday. The currency touched a high and low of 84.48 and 84.38 respectively. 


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