Rupee weakens against dollar on Wednesday
The rupee ended at 90.68 (Provisional), weakened by 12 paise from its previous close of 90.56 on Tuesday
Indian rupee has weakened against the U.S. dollar on Wednesday as dollar demand from importers and high crude oil prices weighed on rupee. Meanwhile, trader awaited for the release of India’s consumer price index data for the month of January. The country’s annual consumer inflation rate is expected to rise to 2.4% in January. On the global front, the commodity currencies such as the Australia, the New Zealand and the Canadian dollars strengthened against some major currencies in the Asian session on Wednesday as traders seemed reluctant to make significant moves ahead of the release of the closely watched U.S. monthly jobs report that could influence the US Federal Reserves’ outlook for interest rates.
Finally, the rupee ended at 90.68 (Provisional), weakened by 12 paise from its previous close of 90.56 on Tuesday. The currency touched a high and low of 90.75 and 90.46 respectively.
