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Rupee depreciates against US dollar on Thursday
Nov-14-2024

Indian rupee depreciated against the US dollar on Thursday weighed down by unabated foreign fund outflows and strong dollar demand from investors. Sentiments got hit after Inflation based on wholesale price index (WPI) in India jumped in the month of October 2024 to 2.36% from 1.84% in September 2024, due to increase in prices of food articles, crude petroleum & natural gas and electricity. On the global front, pound plugged fresh multi-week lows against dollar on Thursday after a sharp fall in the previous session following data that showed inflation was easing in the UK.

Finally, the rupee ended at 84.46 (Provisional), depreciated 6 paise from its previous close of 84.40 on Wednesday. The currency touched a high and low of 84.47 and 84.39 respectively.

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