Market News
Rupee closes stronger, RBI intervention blunts impact of surging dollar - REUTERS
MUMBAI, Nov 22 (Reuters) - The Indian rupee weakened to its lowest level on record on Friday before ending higher as the central bank's intervention supported the currency in the face of the U.S. dollar jumping to a two-year high.
The rupee weakened to a low of 84.5075 against the U.S. dollar before closing at 84.4450, up 0.06% on the day. The currency was marginally lower week-on-week.
The dollar index climbed to a peak of 108.09 on Friday, its highest since November 2022, before paring gains to last quote up 0.5% at 107.69. The greenback was boosted by weakness in the euro and British pound following weak economic data for Germany and the UK.
