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Rupee ends weaker against greenback
Nov-29-2022

Rupee ended weaker against dollar on Tuesday on account of continued dollar demand from importers and banks. Some concerns came after SBI Research in its latest report has expressed cautiousness over India’s economic situation and pencilled the country's GDP growth for the second quarter (Q2) at 5.8 per cent, down 30 basis points from average estimates citing a weak manufacturing sector coupled with the steep margin compression. On the global front, sterling gained against the dollar on Tuesday as the safe-haven greenback fell against most currencies as market sentiment improved on hopes that China would ease its strict COVID-19 curbs.

Finally, the rupee ended at 81.71 (Provisional), weaker by 3 paisa from its previous close of 81.68 on Monday. The currency touched a high and low of 81.74 and 81.57 respectively.

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