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Rupee ends flat on Wednesday
Nov-13-2024

Indian rupee ended flat on Wednesday as unabated foreign fund outflows and a muted trend in domestic equities weighed on the local unit. Sentiments got hit amid sharp rise in retail inflation. Retail inflation breached the Reserve Bank’s upper tolerance level, soaring to a 14-month high of 6.21 per cent in October mainly on account of rising food prices. Inflation based on the consumer price index (CPI) was 5.49 per cent in September and 4.87 per cent in the year-ago month. On the global front, U.S. dollar rose against yen on Wednesday in Tokyo for the first time in over three months on buying fueled by speculation that policies of U.S. President-elect Donald Trump will trigger sharp inflation and lift interest rates.

Finally, the rupee ended flat with its previous close of 84.39 on Tuesday. The currency touched a high and low of 84.40 and 84.37 respectively.

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